PARIS— Three years after it was announced, France’s CosmiCapital space-sector venture fund announced a reduced-size initial closing that reflects risk aversion among institutional investors and the fact that, for some, space is still unknown as an investment vehicle.
Partly as a result, CosmiCapital announced its first closing at 38 million euros ($44.2 million), with two state-owned organizations, Bpifrance and the French space agency, CNES, investing 15 million euros and 12 million euros, respectively.
Bpifrance said it would add . . .
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