Korea's venture capital (VC) firm Korea Investment Partners has invested in the global space launch company SpaceX. It appears that the firm judged there is significant growth potential since SpaceX is enhancing its launch vehicles and generating steady revenue through its satellite communication service Starlink.
According to the venture investment industry on the 13th, Korea Investment Partners recently invested $10 million in SpaceX. This investment was made by purchasing pre-existing shares of SpaceX employees released to the market twice a year. It is reported that SpaceX's valuation in this investment has been set at $400 billion (approximately 549 trillion won). The 'Korea Investment Continuation Fund' and 'Korea Investment US Signature Investment Fund' managed by Korea Investment Partners each invested $5 million.
SpaceX is a company founded by Elon Musk in 2002. It provides launch vehicles such as Falcon and satellite internet services. The reusable Falcon 9 rocket is utilized by private satellite operators and the U.S. government. Starlink is also regarded as a core business of SpaceX. About 7,000 satellites are deployed in low Earth orbit, and approximately 5 million households worldwide are using the service.
Korea Investment Partners also invested about $10 million in xAi, an artificial intelligence (AI) startup founded by Elon Musk, last year.