Branson Takes Stake in Pioneering Space-Investment Firm (1)

Richard Branson has acquired a stake in Seraphim Space Investment Trust Plc, the first venture capital fund focused on the space sector, as part of a 178 million-pound ($247 million) initial public offering.

The billionaire purchased stock in London-based Seraphim in a sale that closed Friday, Will Whitehorn, the company’s chairman, said in an interview Monday. He declined to disclose the size of the commitment.

Branson is backing the U.K. firm as his own Virgin Galactic Holdings Inc. prepares to carry tourists to the edge of space. The entrepreneur and five other crew rocketed to an altitude of ...