LBA’s UK Space Tech Angels to boost investment for space-related technology startups.
Launched at an event in London in conjunction with Seraphim Capital, the UK Space Tech Angels by LBA aims to bring together potential investors with space sector experts in a new, tailored programme that will provide additional funding to space startups. It joins a new alliance of similar sector-specific angel groups in France, Germany and Portugal as part of the European Business Angels Network (EBAN). This new alliance also launched at the event.
The UK Space Tech Angels programme will provide regular entrepreneur pitching events, giving investment ready startups the opportunity to pitch to the UK Space Tech Angel investor community. It builds on the LBA’s highly successful Angels in the City and Angels in MedCity programmes that have nurtured 750 new investors since 2012, as well as helping over 100 start up and early stage companies raise £200m of new angel investment.
The first UK Space Tech Angels investor workshop and pitching events will take place at the start of 2017 and will give insights into the opportunities and challenges of investing in the space sector. It will provide potential investors an overview of the market, possible returns and different models of angel investment. Thereafter new investors can go on to meet pre-screened space startups.
The UK space economy is thriving, growing at a compound annual growth rate of 8.8%, according to the Case For Space 2015 report by London Economics. This provides a great opportunity for aspiring entrepreneurs and investors. The UK Government has set an ambitious target to capture 10% of the global space industry by 2030 and is a key part of the Government’s Industrial Strategy.
“Space-related technology investment is an incredibly exciting field to be in, with opportunities to make a significant return whilst supporting ground-breaking new technologies that have the potential to change the way we all currently conduct our lives.” said Anthony Clarke, CEO of LBA.
The £80m Seraphim Space Fund, a venture capital fund dedicated to funding and scaling space-related start-ups, was launched in November 2016 with the Fund focusing on Series A investments in tranches initially ranging from £500k to £5m. Globally in 2015, more venture capital was invested in the sector than in the previous 15 years, according to a recent report by the Tauri Group.
“There are a number of world leading programmes that have been set-up in the UK to support early stage space sector businesses. The Seraphim Space Fund, working closely with UK Space Tech Angels, will cement the UK’s position at the heart of the space and satellite technology start-up ecosystem through a dedicated source of seed and early stage funding. In doing so, we have created a financial ecosystem that doesn’t exist anywhere else in the world, attracting many more space entrepreneurs to set up and scale their business here.” commented Mark Boggett, CEO of Seraphim Space Fund.
The launch event at Fieldfisher in London, which Spaceoneers attended, brought together over 125 potential investors and specialists from the UK space industry, including Seraphim Capital, the UK Space Agency, Satellite Applications Catapult, Airbus Ventures and the European Business Angels Network (EBAN).
About angel investing
Angel investors can use their personal disposable income to invest in start-up or early stage businesses, typically investing anywhere between £10,000 and £250,000 via syndication in return for an equity share in the business. They generally build up a portfolio of investments to diversify their risks.
The full, original press release is available at ukspacetechangels.com.