Seraphim Space fund surges as Europe’s space-stock rally draws retail buyers

Seraphim Space Investment Trust has quadrupled in price and trades at a 74% premium to its last reported net asset value, highlighting a retail-driven European rally in space-linked stocks. The London-based fund rose as much as 4.5% on May 14, 2026, and headed for a record close. Seraphim raised £137 million, or $185 million, in the week ended May 8, 2026, to expand holdings in mostly private companies, including Finnish satellite startup Iceye. About one-third of the raise came from small investors. The trust’s ordinary shares trade around 245 pence, compared with assets valued at just over 140 pence per share as of Dec. 31, 2025. Other space-linked European shares have rallied sharply, with British SpaceX supplier Filtronic up 232% over 12 months and German satellite maker OHB up 547%. Analysts cite SpaceX IPO expectations, NASA’s Artemis II mission and rising defense spending, though investors warn the rally may reflect momentum more than fundamentals.