Pension manager Ontario Teachers’ Pension Plan invested an undisclosed sum in Space Exploration Technologies (SpaceX), the US-based intergalactic services provider backed by several corporate investors, yesterday.
SpaceX is looking to raise just over $314m in the round, according to regulatory documents seen by CNBC, which reported that Ontario Teachers’ Pension Plan will supply most or potentially all the money.
People familiar with the matter told CNBC last month the round will likely value the company at $33.3bn pre-money. The pension manager supplied the cash through newly formed technology investment fund Teachers Innovation Platform.
SpaceX develops and launches spacecraft and rockets on behalf of corporate clients and has also struck a long-term partnership deal with US space agency Nasa.
The company is currently focusing on establishing a network of low Earth-orbit satellites called Starlink which will form the basis of an advanced internet access system, while working on rockets intended to eventually transport humans to Mars in a bid to colonise the planet.
The new funding would follow $3.18bn previously raised by SpaceX, which last month closed $1.02bn of funding secured across two rounds, at least one of which reportedly included investment firm Baillie Gifford.
SpaceX’s earlier investors include Founders Fund, DFJ, Rothenberg Ventures, Valor Equity Partners and Capricorn Investment Group, and it added $1bn in a 2015 round led by GV, the subsidiary of internet and technology group Alphabet formerly known as Google Ventures.
The 2015 round, which valued SpaceX at $12bn, included investment and financial services group Fidelity Investments. The company was valued at $21.5bn as of a $450m round in 2017 that was followed by $215m from undisclosed backers in April 2018 according to securities filings.
Photos courtesy of Space Exploration Technologies Corp.
