Financing Europe’s Space Defence

A Strategic Conversation on Space and Security

Hosted by Leah Martin, the episode “From Strategy to Sovereignty - Financing Europe’s Space Defence” brought together Edmund and Rob Desborough, Partner at Seraphim, to explore why space capabilities are now central to national security. Against the backdrop of the UK’s increased defence spending and the EU’s €800 billion “Rearm Europe” initiative, the discussion highlighted how commercial innovation is being harnessed to strengthen sovereign resilience.

Edmund emphasised that space is no longer a peripheral technology but a critical enabler of defence strategy, underpinning secure communications, Intelligence, Surveillance and Reconnaissance (ISR), and satellite resilience. He noted that the UK’s approach is deliberately dual-use, ensuring that investments benefit both national security and the wider commercial ecosystem.

Key Points

Throughout the conversation, there were several standout observations:

• On dual-use innovation: The technologies we back must serve both the mission and the market. That dual-use lens is what ensures resilience, scalability, and long-term sustainability.
• On sovereign capability: Edmund stressed that Europe cannot afford to rely solely on external providers for critical space infrastructure: Sovereignty in space is about ensuring that our communications, our intelligence, and our defence systems are not vulnerable to disruption or dependency.
• On funding landscapes: The importance of blending public and private capital was highlighted: Government investment de-risks early-stage innovation, but it’s the partnership with venture capital and industry that allows these companies to scale.
• On success metrics: Edmund argued that success should not only be measured in financial returns but in strategic outcomes. A unicorn valuation is impressive, but the real measure is whether these technologies strengthen our national security posture.

Europe’s Defence Context

The conversation came at a pivotal moment. With geopolitical tensions rising and the EU committing unprecedented resources to defence, space has emerged as a cornerstone of sovereignty. It was pointed out that commercial space companies are increasingly integral to defence supply chains, providing capabilities that governments cannot build alone at speed.

Ed also addressed the ethical dimension of dual-use technologies, noting that responsible innovation is essential. “We have to ensure that the technologies we support are deployed in ways that align with democratic values and international norms,” he said, underscoring NSSIF’s role in guiding investment decisions with both strategic and ethical considerations.

Looking Ahead

The episode concluded by outlining what success might look like over the next five years: a Europe with robust, interconnected space infrastructure, where commercial and defence actors collaborate seamlessly, and where sovereign resilience is strengthened through innovation. It was emphasised that NSSIF’s mission is to ensure the UK remains at the forefront of this transformation, backing companies that can deliver both strategic impact and commercial scale.

Why It Matters

This podcast episode underscores NSSIF’s role in shaping the future of national security through investment in breakthrough technologies. By championing dual-use innovation, enabling public-private collaboration, and prioritising sovereign capability, NSSIF is helping to ensure that Europe’s defence strategy is fit for the challenges of the 21st century.

Listen to the full episode of Generation Space: From Strategy to Sovereignty – Financing Europe’s Space Defence here.