We are delighted to announce that portfolio company Arqit has confirmed that it has reached agreement to undertake a SPAC merger with Centricus Acquisition Corp (Nasdaq: CENH, CENHW).

Arqit’s business combination transaction represents a huge moment for the UK spacetech ecosystem. With an impressive transaction, Arqit will be the first UK SpaceTech company to enter into a business combination transaction with a U.S. publicly listed SPAC, in less than 5 years since its inception. Arqit is an excellent showcase for the UK’s ability to produce world-leading companies in cutting edge areas such as quantum cybersecurity technology and Spacetech.

Our research indicates that the SpaceTech industry has become one of the most sought-after markets for SPAC mergers. By the first quarter of 2021, 11 space-related companies have already announced their intention to undertake transactions with SPACs. The industry finds itself at a watershed moment, and the transformative potential of SpaceTech is now accepted within the investment community, with SPAC transactions as the main means of accelerating their ability to access the capital required to realise their visions.

The announcement of Arqit’s business combination transaction demonstrates that, notwithstanding the recent slowdown in the SPAC market, outstanding SpaceTech companies remain of high interest to public market investors. We believe that Space represents a $1 trillion investment opportunity with long-term growth potential and, as such, will continue to be attractive to private and public market investors alike.

Having first backed Arqit in its seed round in 2018, Seraphim Capital has invested in every round since and are proud to have supported Arqit’s journey to become one of the most exciting cybersecurity companies in the world.