SpaceX, which is backed by Abu Dhabi-based International Holding Company, has completed an equity funding round of $850 million, setting the company’s valuation at roughly $74 billion.
It represents a jump of around 60 percent in the company’s valuation from its previous round in August last year, when SpaceX was valued at $46 billion.
SpaceX designs, manufactures and launches advanced rockets and spacecraft. It is currently building new prototypes of its Starship, a next-generation re-usable rocket. It has two active spacecrafts – Dragon and Falcon 9 – and is building out Starlink, a global broadband internet satellite constellation which will have more than 12,000 satellites for world coverage.
In the second half of 2020, IHC purchased a 94 percent stake in Falcon CI IV LP, a Cayman Island-based private equity fund that has invested in California-based aerospace company, SpaceX.
Peter Abraam, chief strategy and growth officer, IHC, said: “There are a number of venture capital deals that we have invested in as part of our mandate to secure interests in fast growing, scalable technology, media and biotech ventures. We were able to gain exposure in SpaceX via our fund acquisition in Falcon CI IV while other deals such as Oxford Nanopore Technologies, Multiply Marketing and YieldMo were done directly through acquisition or financing rounds.”
Founded in 1998, IHC comprises more than 30 entities across a growing number of sectors, including real estate, agriculture, healthcare, food and beverage, utilities, industries, IT and communications, retail and leisure, and capital.
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