Cobham-owned venture capital fund embarks on wave of investment

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Defense giant Cobham’s venture capital fund embarks on wave of investment

A venture capital fund owned by defense giant Cobham has embarked on a wave of investment, The Mail on Sunday can reveal.

C16 Ventures was reportedly quietly formed last year to take stakes in fast-growing aerospace and defense companies.

Cobham is controlled by controversial US private equity firm Advent International. He has so far taken stakes in four companies through C16 Ventures. These include the ICEYE weather satellite group and Albedo, which is developing “low-flying satellites that will provide ultra-high resolution imagery”.

Stake: Cobham is controlled by controversial US private equity firm Advent International

Several of the investments are present in the UK.

Advent bought Cobham in a £4billion takeover in 2020. It has since sold much of the 88-year-old British company.

The investments should raise fears that Advent is looking to take stakes in more strategic British companies after taking over another British defense company, Ultra Electronics, this year.

The £2.6billion swoop has caused outcry from MPs and military figures as Ultra produces pioneering technology that detects enemy submarines.

New laws came into force in January requiring ministers to investigate major investments in 17 major industries.

A spokesperson for Cobham said it had “a track record of helping businesses at the cutting edge of innovation” and a “rich network” of experts to back the companies it backs.

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