Beyond SpaceX: War, AI, Orbital Infrastructure and green utopia | Mark Boggett | Seraphim Space

Space is not a conventional investment sector; it is an enabling layer for defence, communications, data, energy and infrastructure. Mark Boggett, CEO of Seraphim Space, joins Ross Butler to explain where the investable opportunities sit beyond SpaceX, and how defence demand, artificial intelligence and falling launch costs are changing the economics of SpaceTech. In this episode 🔹Why space should be viewed as infrastructure rather than a discrete sector 🔹Where investors can find opportunities beyond SpaceX, launch and Starlink 🔹Why defence spending is accelerating the development of dual-use SpaceTech 🔹How AI is making satellite data more commercially useful 🔹Why lower launch costs could unlock orbital computing, manufacturing and energy infrastructure Timestamps 00:00 – Why the SpaceX IPO changes the investment conversation 01:41 – Is space a sector or an infrastructure layer? 03:53 – The SpaceTech ecosystem beyond SpaceX 06:49 – Defence, dual-use demand and Europe’s capability gap 11:01 – The UK’s SpaceTech strengths and growth-capital problem 16:24 – When commercial markets could overtake defence 17:47 – AI, satellite data and new commercial use cases 23:21 – SpaceX, xAI, Starship and orbital data centres 33:27 – Business models, vertical integration and SpaceTech moats 39:27 – Why specialist SpaceTech investing matters 51:32 – Orbital debris, regulation and in-space servicing 59:15 – Seraphim’s accelerator, venture and listed growth platform 1:03:21 – Permanent capital, NAV and the listed trust model 1:10:13 – Closing remarks 🔹🔹🔹🔹🔹🔹🔹🔹🔹 Guest Mark Boggett is CEO, General Partner and co-founder of Seraphim Space, an investment firm dedicated to the global SpaceTech market. He helped launch the world’s first venture-capital fund focused exclusively on SpaceTech in 2016. 🔗 CONNECT on LinkedIn   / mark-boggett-5044631   Seraphim’s platform spans an accelerator, early-stage venture capital and the London Stock Exchange-listed Seraphim Space Investment Trust, giving the firm exposure to businesses from formation through to growth stage. 🌐www.seraphim.vc Host Ross Butler is the founder and host of Fund Shack. He has worked around private capital for 25 years as a journalist, policy adviser and consultant, and is the author of Invest Like a Barbarian: Share in the Spoils of a Private Markets Revolution. 🔗 CONNECT on LinkedIn   / rossbutler1   🌐 www.fund-shack.com 🔹🔹🔹🔹🔹🔹🔹🔹🔹 📘 Order Ross Butler’s book 👉 Invest Like a Barbarian: Share in the spoils of the Private Markets revolution ♾️ http://q-r.to/Invest-Like-A-Barbarian #investlikeabarbarian 🔹🔹🔹🔹🔹🔹🔹🔹🔹 About our sponsor Private Markets Capability for Wealth Advisers Clients are increasingly asking not only whether they should invest in private markets, but how private equity and private credit fit within a portfolio, what the liquidity trade-offs are and what the underlying risks actually look like. The PMC-Q50 was developed to help advisers test their preparedness before those conversations take place. The free assessment takes around 25 minutes and produces a personalised private markets capability profile. It identifies where knowledge is strong, where it may need sharpening and which areas should be prioritised next. Take the PMC-Q50 assessment. https://pmc-q50.scoreapp.com 🔹🔹🔹🔹🔹🔹🔹🔹🔹