Branson takes stake in space investment firm


Final frontier: Virgin Galactic’s passenger rocket plane VSS Unity is towed to the hangar at Spaceport America near New Mexico after Sunday’s test flight to space. Owner Richard Branson is backing venture capital fund Seraphim. ― Reuters

LONDON: Richard Branson has acquired a stake in Seraphim Space Investment Trust Plc, the first venture capital fund focused on the space sector, as part of a £178mil (US$247mil or RM1.04bil) initial public offering (IPO).

The billionaire purchased stock in London-based Seraphim in a sale that closed Friday, Will Whitehorn, the company’s chairman, said in an interview Monday. He declined to disclose the size of the commitment.

Limited time offer:
Just RM5 per month.

Monthly Plan

RM13.90/month
RM5/month

Billed as RM5/month for the 1st 6 months then RM13.90 thereafters.

Annual Plan

RM12.33/month

Billed as RM148.00/year

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
   

Next In Business News

MIDF boosts security after cyber Incident
Gas Malaysia distribution adjusts tariff down
RHB IB expects 4.2% y-o-y for 1Q GDP print
Miti closely monitoring situation in Middle East for possible escalation in conflict
Ringgit continues to appreciate vs USD at close
Fajarbaru wins RM13.33mil contract from Malaysia Airports
Fitters Diversified bags RM26.1mil subcontract from IJM Construction
CIMB Thai 1Q net profit dips 24.6% to 626.1 million baht
Maxis ready to build another 5G network, fully supports govt 5G delivery model
Iconic Worldwide raises RM95.6mil in oversubscribed rights issue

Others Also Read