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NEC Backs Seraphim Space Fund II, Expands Space Presence

Photo by NASA / Unsplash

Tokyo, Japan - NEC Corporation (NEC; TSE: 6701) has announced a strategic investment in Seraphim Space Venture Fund II, a venture capital fund focused on early-stage space companies, to expand its presence in the rapidly growing space industry.

The fund, managed by Seraphim Space, a leading global investor in the space sector, has a portfolio of over 100 space-related startups spanning the entire space ecosystem, from upstream activities such as satellite manufacturing and launch services to downstream applications such as climate monitoring and telecommunications.

Etsuko Hirose, General Manager of NEC's Aerospace and National Security Business Planning Department, said the investment underscores NEC's commitment to fostering innovation and harnessing the space industry's potential for societal benefit. 

The company aims to expand its global space-related business further with Seraphim Space portfolio companies.

Mark Baggett, Chief Executive of Seraphim Space Manager LLP, welcomed NEC's investment and highlighted the potential for disruptive growth and consolidation in the space sector. 

He noted that Seraphim Space Venture Fund II is well-positioned to support the next generation of space startups, particularly those emerging in the rapidly growing Asian markets.