Investment Companies Daily: SSIT July newsletter & European scale-up fund investment in ICEYE, RTW Obsidian merger completes, TEM debt facility increase, SCP tender price

Research evidence excerpt

C

A

Z

E

N

O

V

E

Europe Equity Research

05 August 2026

Investment Companies Daily

SSIT July newsletter & European scale-up fund

investment in ICEYE, RTW Obsidian merger completes,

TEM debt facility increase, SCP tender price

Seraphim Space Investment Trust (SSIT, Not Covered) – Space sector

news July 2026: SSIT has published its latest monthly newsletter providing

updates based on publicly available information on newsflow relevant to its

portfolio investments and the wider SpaceTech market.

European Investment Companies

ICEYE (47.1% of SSIT’s 31/3/26 NAV and written up post period end) has

established ICEYE Portugal, opening a new centre of excellence in Lisbon

focused on software development, AI and systems integration. ICEYE also

launched offices in Germany located in Berlin and Munich, appointing Philipp

Herkelmann as CEO. The business will manufacture satellite components and

develop software and artificial intelligence capabilities, while deepening

cooperation with Rheinmetall through their joint venture, Rheinmetall ICEYE

Space Solutions. Beyond Europe, ICEYE expanded its wildfire intelligence

offering into Canada, extending near real-time wildfire monitoring and

building-level damage assessment capabilities into one of the world's most

wildfire-exposed countries and ICEYE partnered with KT SAT to deploy flood

monitoring services in South Korea. ICEYE’s Synthetic Aperture Radar

(SAR) uses radar rather than visible light, enabling satellites to capture

imagery through cloud cover and at night. The agreement marks the first

deployment of ICEYE Solutions in the country and will provide government

agencies with near real-time flood intelligence derived from ICEYE's SAR

satellite constellation. Today, Bloomberg reports here, that ICEYE is the first

investment within the €5bn European Union’s Scale-up Europe fund managed

by EQT.

Adam Kelly, CFA

HawkEye 360 (9.8% of 31/3/26 NAV) has secured a multi-year contract to

provide Radio Frequency (RF) intelligence and analytics to the Indian Navy

and regional partners under a broader Indo-Pacific maritime domain

awareness initiative. Intelligence, Surveillance and Reconnaissance (ISR)

…