Downing exits Goonhilly

The exit marks the end of a four-year ownership after Downing acquired the firm in March 2014.

Goonhill was acquired by Peter Hargreaves, one of the founders of financial services firm Hargreaves Lansdown. The new investor agreed to provide a capital increase and is also acquiring Downing's stake.

Since Downing's investment, Goonhilly has signed a £8.4m deal with with UK and European space agencies to deliver deep-space communications that will be able to support future missions to the Moon and Mars.

Previous funding
Downing invested £3.8m in Goonhilly Earth Station in March 2014. The capital allowed Goonhilly to exercise a 999-year leasehold option for the site as agreed with British Telecom in 2011. It was also used to develop a space-science centre and further expand the business.

In total, the venture capital firm invested around £5m through its VCT funds during its ownership of Goonhilly.

Company
Founded in 2008 and headquartered on the Goonhilly Downs near Helston on the Lizard peninsula in Cornwall, Goonhilly provides satellite command and control services to satellite operators.

It was founded by entrepreneur and satellite communications engineer Ian Jones. The firm's services include commercial satellite communications, special satellite operations and deep-space communications.

People
Downing – Jonathan Boss (partner). 

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