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Space Investment Quarterly: Q3 2021

Q3 2021 Space Investment Quarterly
PUBLISHED
October 12, 2021
BY
Space Capital

This was a historic quarter for human spaceflight and record space infrastructure investment.

  • With another $8.7B invested into 112 space companies in Q3, there has now been $231.2B of equity investment into 1,654 unique companies in the space economy over the past 10 years
  • The majority of investment dollars YTD have gone to Late Stage rounds, however 217 early stage rounds account for 59% of all rounds closed, representing  $1.5B of investment and a healthy front of the funnel.
  • Infrastructure companies have already hit a new annual record, with $10.3B invested YTD (6% more than full year 2020), driven in part by SPACs. While six space company SPACs successfully merged in Q3, the landscape for SPACs is changing dramatically. In fact, two of the six space company SPACs that closed in Q3 did so with redemptions greater than 90%.
  • VCs invested another $3.9B into 83 space companies in Q3, of which $2.0B went to U.S. companies. Investors liquidated $5.3B of value in 22 space company exits in Q3, driven primarily by acquisitions and IPOs in the Infrastructure stack.