Photo: Via Satellite illustration

NewSpace Capital closed its first space-focused growth fund at 105 million euros ($111.8 million) and is investing 15 million euros ($16 million) in Cailabs, the company announced Dec. 15. NewSpace Capital is a Luxembourg-based private equity fund dedicated to space-focused technology investments. Archean Capital Partners, a U.S. fund dedicated to investing in emerging fund managers with specialized sector and operational experience, led the round with a cornerstone investment.

The firm targets growth-equity opportunities in downstream applications and supply chain segments of the space market. Cailabs is a French deep-tech company that aims to enable revolutionary photonic solutions for industrial and communication applications. NewSpace Capital is the lead investor in Cailabs’ 26 million euros ($27.7 million) Series C financing round.

The fund’s other investments to date include Iceye which owns and operates one of the world’s largest constellation of synthetic aperture radar (SAR) satellites, and Kayrros, a climate-tech data analytics company.

“We are very selective in backing new funds and we are willing to wait for the right combination of team, strategy and market opportunity. NewSpace Capital has an amazing network within the space ecosystem that makes them a preferred partner to companies like Cailabs. We are thrilled to support the team as they build NewSpace Capital into the next market leading private equity firm,” Chris Keller, co-portfolio manager of Archean Capital, said in a statement.