Phoenix Court
Umbrella investor for LocalGlobe and Latitude.
On 14 September 2026, Phoenix Court's LocalGlobe and Latitude funds joined Open Cosmos's €300 million Series C, backing the satellite maker through its later-stage vehicle.
Last refreshed: 22 September 2026 · Appears in 1 active topic
Timeline for Phoenix Court
Joined Open Cosmos's funding syndicate
UK Startups and Innovation: Open Cosmos raises €300m, no US nameBackground
Phoenix Court sits as the umbrella group under which LocalGlobe and Latitude operate as separate funds: LocalGlobe invests at pre-seed and seed, Latitude at Series B and later. Its LinkedIn and press materials describe two further vehicles, Solar and Basecamp, sitting alongside them within the same structure.
The reorganisation split each investment stage into its own dedicated vehicle rather than stretching one fund across a company's whole life, and positioned the group's home market as an answer to London's underinvestment relative to Silicon Valley.
Robin and Saul Klein founded LocalGlobe as an early-stage fund before the 2022 rebrand created the wider Phoenix Court structure.
Phoenix Court backs a later-stage bet
LocalGlobe and Latitude, the vehicles operating under the Phoenix Court umbrella, write the cheques rather than Phoenix Court itself, with Latitude focused on Series B and later rounds such as this one . The group formed in June 2022 when LocalGlobe, founded by Robin and Saul Klein, rebranded as Phoenix Court Group and launched new funds with a first close of around $500 million.
Backing Open Cosmos through Latitude puts a UK space manufacturer alongside the group's other growth-stage bets, and fits the group's stated aim of giving London-based, later-stage companies a dedicated funding PATH rather than stretching one fund across a company's whole life.
