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.
Already a subscriber? Log in.
Subscribe or renew your subscriptions to win prizes worth up to RM68,000!
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!
