South Korea’s Mirae Asset and Australia’s QIC were behind a $250 million cash injection into SpaceX, sources tell Forbes, maintaining SpaceX's recently-set valuation at $127 billion. Scoop by alexrkonrad and DurotMatthew
Onlookers in Seoul, South Korea watched SpaceX launch the nation's first lunar orbiter on August 5, 2022. Now a South Korean investment firm is pouring millions into the rocket startup.The $250 million extension to SpaceX’s last funding was led by a group of previously unidentified investors from Australia and South Korea, sources tell Forbes.struggle to justify sky-high private market valuations, SpaceX remains a rocket ship, quadrupling in value over the last three years.
South Korea’s Mirae Asset Global Investments and Australia’s Queensland Investment Corporation led a $250 million cash injection into SpaceX as an extension of its most recent funding round, two sources with knowledge of the transaction tell. The new round, which maintained SpaceX’s pre-money valuation at $125 billion — the highest for any U.S. startup — means SpaceX now carries an effective valuation of $127 billion. Its fundraising haul for the year now stands at $2 billion.
SpaceX reported the funding extension in an August 5 regulatory filing that confirmed the investment sum and listed five unidentified investors. That sum, without any investor names, was first reported on Friday. SpaceX and the investors could not be immediately reached for comment on Thursday. Mirae’s involvement was confirmed by an additional source.
QIC and Mirae Asset were the most significant contributors to the round, which came about due to excess demand for shares of SpaceX, the source says; but they were not the only ones. Alpha Dhabi and International Holding Company, two Abu Dhabi-based investment groups, each contributed $25 million to the round. Those firms confirmed their investments in June via filings, asby The National and were included in a reference to the funding round on startup data tracker PitchBook.
Mirae Asset is a surprise name to see investing in SpaceX, though the firm purports to have more than $2.5 billion in venture capital-style alternative assets under management, per its website, including grocery delivery app Jokr, Indian ride sharing platform Ola and southeast Asian super-app Grab.
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SpaceX Starlink satellites face Russia space debris 'squalls' in orbit: reportElizabeth Howell, Ph.D., is a staff writer in the spaceflight channel since 2022. She was contributing writer for Space.com for 10 years before that, since 2012. As a proud Trekkie and Canadian, she also tackles topics like diversity, science fiction, astronomy and gaming to help others explore the universe. Elizabeth's on-site reporting includes two human spaceflight launches from Kazakhstan, three space shuttle missions in Florida, and embedded reporting from a simulated Mars mission in Utah. She holds a Ph.D. and M.Sc. in Space Studies from the University of North Dakota, and a Bachelor of Journalism from Canada's Carleton University. Elizabeth is also a post-secondary instructor in communications and science since 2015. Her latest book, Leadership Moments from NASA, is co-written with astronaut Dave Williams. Elizabeth first got interested in space after watching the movie Apollo 13 in 1996, and still wants to be an astronaut someday.
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