INVEST RAISE ABOUT INSTITUTIONAL arrow_back BACK Investment manager Downing exits satellite earth station business following £5m investment 14 May 2018 Investment manager Downing LLP today announces the successful exit by its funds from a Cornwall-based satellite station site, managed by Goonhilly Earth Station Limited. Downing has worked closely with Goonhilly since early 2014, investing some £5 million through its Venture Capital Trust (VCT) funds, to allow the business to acquire its historic Cornwall-based satellite earth station and undertake an investment programme to expand capacity for its telemetry and communications services. The Goonhilly business provides satellite command and control services to a number of satellite operators. Since Downing’s investment, Goonhilly has gone on to sign a £8.4 million deal with UK and European Space Agencies to deliver deep-space communications that will be able to support future missions to the Moon and Mars. The business has also signed a further collaboration agreement with the European Space Agency and Surrey Satellite Technology Limted to provide support for commercial lunar missions. The Cornwall area itself is also considered a centre for excellence in the UK’s space and aerospace industries and it is currently bidding to be selected as Europe’s first spaceport. A new investor, Peter Hargreaves, one of the founders of the quoted financial services firm, Hargreaves Lansdown, has now agreed to provide a substantial investment as the company embarks on the next stage of its journey, and is also acquiring Downing’s stake, delivering a healthy return to the Downing VCTs. Jonathan Boss, Partner and Head of Lending at Downing LLP, commented: "The commercial space sector is a burgeoning market and helping facilitate the important role that Goonhilly has played as part of this has been a fascinating and very worthwhile journey for our investors. I wish the team every success as they continue to take a leading role in the UK’s ambitions to participate in both scientific and commercial space missions.” - ends - For all press enquiries, please contact: Pamela Morris, PR Director at the lang cat 0131 202 6037 / 07712 515 503 pamela@langcatfinancial.com Jean Birrell, Downing LLP 07799555353 jean.birrell@downing.co.uk Downing Home Our story The team News & views Responsible investing Careers Contact us Invest Bonds EIS Estate planning Downing Fund Managers VCT Existing investor Investor centre Institutional Institutional investors Infrastructure asset management Raise Development Capital Energy Healthcare Leisure Property Wholesale Finance Ventures Ventures home About ventures Portfolio Ventures team Ventures careers Legal & support Privacy & cookie policy Information Security Policy Statement Terms and conditions Terms of business Inducement disclosure FAQs Pillar III Modern slavery statement Fraud prevention Complaints Social Twitter LinkedIn Downing LLP does not provide advice or make personal recommendations and investors are strongly urged to seek independent advice before investing. Investments offered on this website carry a higher risk than many other types of investment and prospective investors should be aware that capital is at risk and the value of their investment may go down as well as up. Any investment should only be made on the basis of the relevant product literature and your attention is drawn to the risk, fees and taxation factors contained therein. Tax treatment depends on individual circumstances of each investor and may be subject to change in the future. Past performance is not a reliable indicator of future performance. Downing LLP is authorised and regulated by the Financial Conduct Authority (Firm Reference Number 545025). Registered in England No. OC341575. Registered Office: St Magnus House, 3 Lower Thames Street, London EC3R 6HD. VAT Number: 112 940 149 We use cookies to ensure that we give you the best experience on our website. Click here for more information. DISMISS Feedback