Seraphim Space has appointed a former UBS director as its new chief operating officer, as the space technology fund manager looks to broaden its horizons following significant growth.
Sarah Shackleton, who joins from London-based private equity firm Development Partners International (DPI) where she was partner, brings veteran-level experience to the role after being embedded in the finance industry for some 24 years.
The incoming Zimbabwe-born and educated lead has also held accounting and financial systems analyst roles at Dresdner Kleinwort Benson and HSBC’s investment bank.
Shackleton had previously overseen around $2.8bn (£2.1bn) in assets under management at DPI, one of Africa’s top private equity investors.
London-listed Seraphim Space Investment Trust, managed by Seraphim Space, has deployed £135m in capital to space tech companies since its float last summer – with the corporate space race finally taking off.
“The space tech sector is forecast to grow into a trillion-dollar industry this decade,” CEO Mark Boggett explained. “Technological advances are at a watershed moment, overturning traditional models for operating in space, and creating hundreds of new companies every month.”
Seraphim’s portfolio has “grown significantly” over the past six months, Boggett added, swelling to a value of £185m.
“Sarah possesses a wealth of experience in overseeing the day-to-day administrative and operational functions of billion-dollar funds,” the space fund boss continued. “Which will be integral to ensuring, as the managers of the world’s first publicly listed space tech fund, that we continue to grow our portfolio across the full space tech ecosystem.”