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Seraphim Space Investment Trust’s (SSIT) overall portfolio is worth close to 260 million pounds ($348.91 million) at the end of June, a close to 29% increase compared to the same stage last year. This was one the highlights of the company’s full year results which were issued on Oct. 20.

The company pointed to the fact that key holdings have seen substantial traction, profits and valuation uplifts. It highlighted Iceye which has doubled in value over the last year on the back of a string of major commercial successes.

SSIT believes its portfolio is well-positioned to continue benefiting from favorable market conditions with a well-funded portfolio and fund liquidity boosted through further IPOs and sell-downs of listed holdings.

Seraphim has also deployed 14.2 million pounds ($19.1 million) deployed in one new portfolio company and six existing portfolio companies. Over the 12 months to the end of June, Seraphim received 12.5 million pounds ($16.8 million) in proceeds from disposals. Astroscale went public on the Tokyo Stock Exchange in June of 2024, SSIT exercised the options it held in AST SpaceMobile and disposed of some of its holdings in April of this year.

The company was involved in some major funding rounds in the 12 months to the end of June. It was involved with the likes of Iceye, D-Orbit, Xona Space Systems, Skylo, Pixxel, AST SpaceMobile.

“This geopolitical realignment has catalyzed a new era of profitability for key portfolio companies. Iceye and HawkEye 360, emblematic of this transformation, are now delivering consistent quarter-on-quarter profits, reflecting both operational maturity and strategic relevance. As a result, we have changed the valuation methodology of both holdings to a comparable multiples approach using EV/revenue multiples. The portfolio has also benefited from robust capital inflows, with more than $390 million raised by private companies and a successful IPO for Voyager, signalling strong investor confidence in the sector’s trajectory amid heightened security imperatives,” Mark Boggett, CEO of Seraphim Space, said in a statement.