Friday, October 22, 2021

$ 10.3 billion to date sets an annual record

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Pete Cannito, Redwire Corporation at the New York Stock Exchange, September 8, 2021.

Source: NYSE

Private investment in space companies reached $ 3.9 billion in the third quarter, driving this year to a new annual record of $ 10.3 billion, according to a report this week by New York-based firm Space Capital.

“This quarter sets a new record for annual infrastructure investment, having surpassed the previous $ 9.8 billion set in 2020,” Space Capital Managing Partner Chad Anderson wrote in the report.

Space Capital’s quarterly report divides industry investment into three technology categories: infrastructure, distribution, and application.

Infrastructure includes what would commonly be considered space companies, such as companies that build rockets and satellites.

Space companies that closed SPAC mergers and went public made up a significant portion of the capital raised in the third quarter, with moves completed by Rocket Lab, Spire Global, BlackSky, Momentus and Redwire. The two biggest deals of the quarter were for ORBCOMM, which went private for $ 1.1 billion, and satellite broadband company OneWeb, which raised $ 550 million.

With more SPAC deals expected to close in the fourth quarter, Anderson wrote that “the average round size and number of rounds are also on track to set new records at the end of the fourth quarter.”

In total, Space Capital tracks 1,654 companies that have raised $ 231.2 billion in cumulative global equity investment since 2012 across its three space categories.

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