Stellar Ventures Closes $23M Fund for Next Generation of Space Entrepreneurs (Image Credit: Payload)
Woman-led venture capital firm funds early-stage mission driven space technologies, leveraging unique technical and due diligence expertise in the aerospace sector.
PALO ALTO, Calif. (Stellar Ventures PR) — Stellar Ventures launched its first fund, SV Andromeda Fund LP, which recently held its final closing with over $23M in capital commitments and the mission to invest in the future of space technology. Drawing on the extensive network and technical expertise of aerospace engineering partner Stellar Solutions, Inc., Stellar Ventures is uniquely positioned to identify leading terrestrial and orbital space technology companies in early growth stages.
Investing in space start-ups reached nearly $15-billion in 2021 (Bryce Tech, 2022). The roughly $350-billion global space market could surge to over $1 trillion by 2040 according to Morgan Stanley’s Space Team estimate with strategic public-private partnerships producing innovative, integrated solutions.
“We are standing at the precipice of exponential growth in the space industry, similar to the Internet in the late 1990s,” said Managing Director Celeste Ford. “Amazon, Google and Netflix were built upon the Internet’s foundation. In today’s space industry, the commodification of space launch has led to a similar dynamic, with a new set of entrepreneurs rapidly bringing innovative products to market. Stellar Ventures is investing in promising entrepreneurs who are capitalizing on these opportunities to build the space companies of tomorrow.”
A pioneering aerospace engineer, Ford founded Stellar Solutions in 1995 and led it as CEO until ascending to Board Chair in 2018. She founded Stellar Ventures in 2022 with Managing Director Matt Patterson and Operating Partner David Anderman.
“No other venture fund in the space industry has a partner like Stellar Solutions,” said Patterson. “Stellar Solutions identifies deal flow, performs our due diligence, and introduces entrepreneurs to government customers where their products can directly impact US and international missions.”
Stellar Solutions specializes in high end systems engineering, serving intelligence, defense, civil, commercial and international space customers. Stellar Solutions’ more than 300 employees include an impressive roster of Stellar Solutions Advisors who are accomplished leaders with experience in national security (e.g., Generals, Admirals, SES – Senior Executive Service, Ambassadors), former astronauts, and scientific/engineering experts serving the defense, intelligence, commercial, civil and international sectors.
“Stellar Ventures is committed to identifying successful investments for its limited partners and fueling the development of space-enabled technologies to achieve ambitious business, government and environmental goals,” said Anderman, who is the former General Counsel of SpaceX and previously served as the Chief Operating Officer and General Counsel of Lucasfilm Ltd.
“Engineers are creating the next generation of space startups and can prove out their technology on orbit for a fraction of what it cost just a few years ago,” he added. “What was once the realm of science fiction is now reality as humanity expands into the cosmos.”
Space-enabled technology allows Fortune 500 companies to monitor crop production and supply chains, and governments to manage cyber security and warfighter support. As expressed in the 2021 United States Space Priorities Framework, “Space activities are essential to our way of life. They advance our understanding of the Earth, the universe, and humanity; enable U.S. national security; create good jobs and economic opportunity; enhance our health and well-being; and inspire us to pursue our dreams.”
About Stellar Ventures
Stellar Ventures is a woman-led venture capital firm investing in the next generation of space entrepreneurs. With the launch of their first fund, SV Andromeda Fund LP, the Stellar Ventures team will invest in early-stage, mission driven space technology companies, leveraging their technical expertise and network in the aerospace sector. Stellar Ventures is partnering with extraordinary leaders who are utilizing space technology to build exceptional businesses that will change the world.
About Stellar Solutions
Stellar Solutions, Inc. is a global aerospace and systems engineering services provider to commercial, defense, intelligence, civil and international sectors. Stellar Solutions provides systems engineering capabilities and strategic support for global communications, remote sensing, national defense, and space exploration. These solutions to customer critical needs connect technology and customers across multiple domains. With physical operations throughout the U.S. and the globe, Stellar Solutions is a recognized leader in delivering end-to-end critical expertise and problem-solving skills.
