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Venture capital fund owned by Cobham embarks on flurry of investments

Venture capital fund owned by defense giant Cobham starts avalanche of investment

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

C16 Ventures is said to have been quietly established last year to buy stakes in fast-growing aerospace and defense companies.

Cobham is controlled by the controversial American investment company Advent International. To date, it has acquired a stake in four companies through C16 Ventures. These include the weather satellite group ICEYE and Albedo, which are “developing low-flying satellites that will provide ultra-high-resolution images.”

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

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

Some of the investments are in the UK.

Advent bought Cobham in a £4bn takeover in 2020. Since then, it has sold much of the 88-year-old British company.

The investments are likely to raise concerns that Advent is seeking stakes in more strategic British companies after acquiring another British defense company, Ultra Electronics, this year.

The £2.6bn attack sparked outrage from MPs and military figures as Ultra produces groundbreaking technology that detects enemy submarines.

New laws came into effect in January requiring ministers to examine major investments in 17 key industries.

A spokesperson for Cobham said it has a “track record of helping companies be at the forefront of innovation” and a “rich network” of experts to support companies it supports.

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