25 October 2018 [Via Satellite].
On the 25th of October 2018, Spacebit Capital announced the world’s first ever tokenized venture capital fund for the space industry. The announcement was made simultaneously at the World Investment Forum in Geneva and the World Blockchain Summit in Dubai.
Making a Greater Leap for Crypto
The private space industry is a rapidly-growing market, projected to be worth trillions of dollars in the near future, according to a recent Goldman Sachs (2016) report. A new vision of space is beginning to emerge. Once only accessible to governments and large corporations, it is now open to small companies and even for public participation. Exciting projects involving new space missions, the Moon, Mars and asteroid mining will all bring considerable opportunity and economic value for future generations.
Those resources will not only change the course of humanity, but also provide an avenue for investors to meaningfully participate in our next great adventure. Blockchain alone gives us unprecedented capabilities to create and trade value in society. As the foundational platform of the Fourth Industrial Revolution, it can help to create and distribute new values to be gained from exploring the final frontier. Tokenisation of missions and space assets will help to create and measure new value to humankind, whilst appreciating increased liquidity and public participation.
Tokenising the Final Frontier
The fund will focus on early stage, space-related IP intensive companies for near earth and lunar applications and predominately invest in downstream (software) and commercial applications relevant to satellite communications and data, with particular focus on those incorporating blockchain technology. It is well known that satellite data and its efficient communication has been an enabler of new commercial opportunities and social innovations, from applications in intelligent transport and smart cities through to the agriculture, insurance and maritime industry. The ability to tokenise communications and data is a key enabler for the future economy, allowing for such opportunities to be extended, forming a new global space economy whilst redefining the existing venture capital model and bringing liquidity into long-term space projects.
The funds secondary investments will target enabling technologies, such as those in propulsion, robotics and remote sensing which are required for the upcoming generation of Space missions. To complement the fund a network of Crypto Space Angels has been formed, comprising of experts, investors and visionaries from the cryptocurrency and blockchain industries.
Crypto Angels for Space Technology
The creation of the Crypto Space Angels network is another step toward realising a greater mission for crypto and creating an ecosystem to enable mankind to venture further into space. The purpose of the Crypto Space Angels is to create a global network of crypto investors who want to make a difference and support development of the space industry.
Fund partner Pavlo Tanasyuk commented: “We have developed a clear roadmap for our future investments and a pipeline of space projects ready for execution and funding. The initial investment phase will concentrate on the European markets. We believe that the creation of Spacebit Capital will help harness the latest innovations in satellite data and communications technology and drive the next digital revolution. We are soon opening investment opportunities to qualified investors, but in the future, we hope to establish a hybrid model where any individual will be able to directly invest in large-scale space projects, which forms a key part our vision.”