Subscription Fund For New-Space Startups
A new venture capital project that seeks to invest in new-space and human longevity startups will launch in January and could provide yet another opportunity for more retail-level investors to get in on the growing space economy.
SP8CEVC founders announced the new rolling VC fund during the TechCrunch space webinar Dec. 16-17. Subscribers will have to sign up for a minimum quarterly subscription rate of $25,000 for a year. Managing partners are Franz Almeida, the space investment lead, and Junaid Mian, the longevity lead.
“Our goal is to make investing in space technology and human longevity simple and quick,” the pair said as part of their announcement. “In three months we built out our core team, infrastructure and are now pivoting to a Rule 506(c) structure via AngelList. We have about 50-plus deals identified to invest into, in our pipeline with allocations into current rounds secured.”
Almeida said he was an airline transport pilot for 11 years, an angel investor for nine years, created a startup and since found his calling in VC. Attorney Amy Kabaria, who has worked on deals related to aeronautics, cybersecurity and blockchain technology, is listed as a space advisor to the fund.
The investors point to oft-cited investment bank research that shows the space economy—about $380-400 billion now, depending on what is included—could more than triple to $1 trillion by 2040. They said the longevity market could similarly explode from $110 billion now to $600 billion by 2025.
Of course, investors should be aware of the risks associated with new-technology investing, as well as the unusual structure of the rolling fund. The founders acknowledge it is a pilot program; limited partners (investors) may not receive regular or any information about certain investments made, and other caveats are listed at https://angel.co/v/back/sp8cevc.