Invest in this rare opportunity through AltaX

Investing in SpaceX is primarily available to large institutional investors? That may have been true in the past, but is no longer the case for Alta’s investors. In-line with Alta’s mission to improve access to private markets, we are keen to gather your indications of interest for this highly coveted opportunity to invest in SpaceX.

As a standout in the aerospace sector, SpaceX has made significant strides in reusable rocket technology and boasts a strong track record of successful launches. Most notably in October 2024, it successfully conducted the fifth test flight of Starship, which saw the Super Heavy booster perform its atmospheric reentry and landing burn before being caught by the launch and catch tower at Starbase. This marks another significant step in SpaceX’s testing of Starship’s reusability and reentry systems.

Furthermore, SpaceX is poised for elevated growth under a Trump administration focused on fostering innovation and reducing regulatory barriers in energy, technology, and manufacturing, which could lead to increased support and traction in both commercial and government sectors for the launch and Starlink segments.

The Leading Company in Space Aviation and Satellite Communications

The space industry is heating up. At the forefront of this US$380 billion industry is Elon Musk and Space Exploration Technologies — better known as SpaceX — an aviation and aerospace company that designs, manufactures and launches advanced rockets and spacecrafts. As a premier government space contractor, SpaceX stands poised to revolutionise lunar and Martian exploration with its Starship Technology.

Since its early beginnings in pioneering technological advancements in the space aviation industry, SpaceX has over time developed its twin engines of growth into two distinct segments – Launch (space aviation and aerospace) and Starlink (satellite communications), which are synergistic and complementary, creating a virtuous circle of cost-efficiencies to fuel revenue growth and technological advancements.

SpaceX — the Leading Company in Space Aviation

SpaceX's Meteoric Rise: Over 100X growth to US$210billion; Paving the Way for a $1 Trillion Space Industry

Against the backdrop of SpaceX’s progress on reusable spacecraft launches and its rapidly-growing Starlink LEO satellite communications business, the company has grown over 100x over the past decade - reaching approximately US$210 billion. This achievement paves the way for further growth in the space industry, which is anticipated to reach US$1 trillion in annual revenue by 2040 [19].

The space industry should reach US$1 trillion in annual revenue by 2040, with launch costs dropping 95%, Citigroup analysts said in an extensive report published this month.

With SpaceX’s technology development in its reusable rockets and Starlink satellites, the company has created a “double flywheel” to accelerate its advancement in the space race. To date, SpaceX has raised >USD9 billion [22], from world-renowned investors including Fidelity and Alphabet [23].

Starlink: Bridging the Digital Divide

Starlink satellites continue to lead the race on several key fronts, forming a key component of SpaceX’s valuation. Starlink has achieved enhancements in its launch capacity and bandwidth, both in frequency and payload per flight, and cost of launch — improving the economics and path to scale of Starlink’s low-earth orbit (“LEO”) constellation [12].

Starlink has been actively enhancing its global reach by establishing strategic partnerships with various telecommunications providers worldwide. Shortly after securing a partnership in Japan back in October 2022, Starlink has continued its expansion into Asia, signing a deal with Data Lake in the Philippines [13][14]. Additionally, Starlink is collaborating with Australian telecommunications provider, Telstra, to offer its services in remote areas of the country [15]. Notably, working towards achieving internet coverage of 100% in populated areas,, Malaysia became the 60th country to be covered by Starlink’s services [16].

As of June 2023, Starlink missions have taken precedence in SpaceX's schedule, accounting for 22 out of the 41 Falcon 9 launches conducted this year. This has led to a notable increase in the total number of satellites in operational orbit, reaching 3,688, with an additional 590 satellites in the process of moving to their designated operational orbits [17]. In their most recent launch on 28th July, SpaceX successfully deployed 22 more satellites into orbit [18].

Developed Multiple Engines For Revenue Growth

Today, SpaceX generates revenue through a range of commercial and government contracts, including space station resupply and commercial satellite launch missions, as well as science and national security-related missions for the US government. SpaceX has ascended to the No.2 spot on NASA's contractor list, receiving US$2.04billion in FY2022 - surpassing the amount paid to Boeing for the first time [7]. In Aug 2022, NASA announced it has awarded five more astronaut missions to SpaceX, with a contract worth US$1.4 billion [8].

SpaceX's
Starship

In August 2023, SpaceX conducted the test launch of its SpaceX Starship booster. Although the test did not run a full duration, ending only after 2.74 seconds out of the full planned 5 seconds [9], the ignition served as an important testing milestone for SpaceX as it prepares for the next launch of its deep-space Starship rocket system [10].

This trial comes months after the launch of their SpaceX Starship rocket in April 2023 — the most powerful launch vehicle ever constructed, which marked the first testing of several elements. Attempting to fire up 33 massive Raptor engines at the same time for a flight test had never been done before. Furthermore, using methane for fuel is also a new approach for SpaceX. The vehicle is also made of steel while other rockets typically use lighter metals and carbon composites. SpaceX engineers poured over the data that was gathered on the flight [11], preparing for subsequent trials with an unwavering spirit to achieve success.

SpaceX in the Headlines

SpaceX Beats Rivals to Clinch Key Contracts
In April 2022, SpaceX bested Jeff Bezos’ Blue Origin and others in the contest to clinch a USD2.9b NASA contract to build a lunar lander spacecraft to carry NASA astronauts to the lunar surface for the first time since 1972.

SpaceX has been raking in a steady stream of critical contracts this year, from renowned Space Institutions like NASA (USD331.8m contract and USD178m contract), Space Development Agency (USD150.5m contract), and the U.S. Space Force (USD384m combined bookings with United Launch Alliance).

SpaceX’s Starlink business ‘achieved breakeven cash flow’
As one of the most valuable private companies globally, SpaceX has firmly established a near-monopoly on the U.S. satellite launch market. With its revolutionary Starlink project, the company has successfully launched nearly 5,000 satellites and has amassed an impressive subscriber base of over 1.5 million within just three years of its inception.

Riding from a positive cash flow in the last quarter, SpaceX’s momentum continues to flourish through its Starlink business arm, evident from its recent contract win with the Pentagon to provide Starlink services in Ukraine.

SpaceX Falcon Heavy rocket lofts massive satellite into space
In July 2023, SpaceX accomplished a remarkable feat by successfully delivering and deploying the Jupiter-3 spacecraft, the heaviest commercial communications satellite in the world, developed by EchoStar. This achievement was made possible using SpaceX's most powerful operational rocket, the Falcon Heavy.

Tipping the scales at over nine metric tonnes and boasting a size comparable to that of a bus, the Jupiter-3 satellite's primary objective is to offer wireless internet coverage across North and South America. This momentous launch marked the seventh successful mission of the Falcon Heavy since its debut in 2018.or investors.

FAQs

1 - What is the minimum ticket size I can invest?
The minimum ticket size is US$10,000. We are prioritizing larger investment amounts at the moment due to the limited supply of available blocks; To maximise your chances of securing an allocation, please indicate the highest investment amount you would be able to make.

2 - Can I access additional due diligence documents prior to my investment?
Access to additional due diligence documents is limited due to the size and nature of the transaction. Please see our Documents section in the side panel above to view the available documents.

3 - What are the fees associated with this investment?
Indicative Fees:

Origination Fee:
5.0% upfront on top of aggregate commitment

Management Fee:

Feeder Fund
1% p.a. of aggregate commitments during the entire Feeder Fund life;
10% carried interest

4 - Will all of my capital be called upfront?
In most instances, all of your capital will be called upfront.

5 - What is the fund structure of the investment?

6 - What is the investment process?
Investors would be onboarded into the Fundnel-Space Fund via Alta, which would include all relevant paperwork. Subsequently, the Fundnel-Space Fund will invest in the Target Fund, which will then proceed to acquire additional SpaceX shares. The acquisition of SpaceX shares is expected to take place within 4 weeks after subscription documents are submitted, and capital will be called within this timeframe as well.

Disclaimer:

[1] Retrieved from SpaceX. https://www.spacex.com/mission/#:~:text=SpaceX%20has%20gained%20worldwide%20attention,from%20the%20International%20Space%20Station.
[2] Retrieved from Reuters. https://www.reuters.com/lifestyle/science/spacex-capsule-with-worlds-first-all-civilian-orbital-crew-set-splashdown-2021-09-18/
[3] Retrieved from Space Flight Now. https://spaceflightnow.com/2022/12/17/falcon-9-starlink-4-37-launch/
[4] Retrieved from Space Explored. https://spaceexplored.com/2023/07/30/spacex-launches-2023/#:~:text=Keep%20track%20below%20of%20all,Falcon%20Heavies%2C%20and%20one%20Starship
[5] Retrieved from CNBC. https://www.cnbc.com/2023/07/13/elon-musk-spacex-near-150-billion-valuation.html
[6] Retrieved from X. https://twitter.com/elonmusk/status/1564994769826172929?s=20&t=vW4XeIl4VmwE14CZjHJXAA
[7] Retrieved from ARS Technica. https://arstechnica.com/science/2022/10/spacex-becomes-nasas-second-largest-vendor-surpassing-boeing/
[8] Retrieved from CNBC. https://www.cnbc.com/2022/08/31/nasa-awards-spacex-1point4-billion-in-contracts-for-5-more-astronaut-missions.html#:~:text=NASA%20on%20Wednesday%20announced%20it%20has%20awarded%20five%20more%20astronaut,from%20the%20International%20Space%20Station.
[9] Retrieved from Arstechnica. https://arstechnica.com/space/2023/08/spacex-conducts-a-mostly-successful-test-of-its-super-heavy-booster/
[10] Retrieved from Fortune. https://fortune.com/2023/08/06/spacex-starship-engines-water-deluge-system-elon-musk-rock-tornado/
[11] Retrieved from CNN. https://edition.cnn.com/2023/04/21/world/spacex-starship-explosion-success-failure-scn/index.html
[12] Retrieved from CNBC. https://www.cnbc.com/2021/10/19/morgan-stanley-spacex-starship-may-transform-investor-expectations.html
[13] Retrieved from Nikkei Asia. https://asia.nikkei.com/Business/Telecommunication/Elon-Musk-s-Starlink-launches-satellite-internet-service-in-Japan
[14] Retrieved from Reuters https://www.reuters.com/business/aerospace-defense/elon-musks-spacex-partners-with-philippine-tycoon-satellite-service-2022-10-27/
[15] Retrieved from The Guardian. https://www.theguardian.com/business/2023/jul/05/telstra-signs-starlink-deal-agreement-elon-musk
[16] Retrieved from Mashable SEA. https://sea.mashable.com/tech/25313/elon-musks-starlink-is-set-to-gift-malaysia-100-internet-coverage
[17] Retrieved from NASA Space Flight. https://www.nasaspaceflight.com/2023/06/starlink-5-12-launch/
[18] Retrieved from Space. https://www.space.com/spacex-starlink-falcon-heavy-launch-doubleheader-july-2023
[19] Retrieved from CNBC. https://www.cnbc.com/2022/05/21/space-industry-is-on-its-way-to-1-trillion-in-revenue-by-2040-citi.html
[20] Retrieved from Forbes. https://www.forbes.com/sites/daviddawkins/2020/10/23/elon-musks-spacex-gets-bullish-100-billion-valuation-from-morgan-stanley-double-what-investors-said-it-was-worth-in-august/?sh=614ce1876e79
[21] Retrieved from CNBC. https://www.cnbc.com/2021/10/19/morgan-stanley-spacex-starship-may-transform-investor-expectations.html
[22] Retrieved from Crunchbase. https://www.crunchbase.com/organization/space-exploration-technologies
[23] Retrieved from Yahoo. https://finance.yahoo.com/news/buy-spacex-stock-151215951.html
[24] Information and figures cited have been provided by the Target Fund Manager
[25] Information and figures cited have been provided by the Target Fund Manager

Investing in SpaceX isn't just for large institutional investors, anymore. Invest in this rare opportunity through Alta at minimum ticket size of US$10,000.

Invest in this rare opportunity through AltaX

The Leading Company in Space Aviation and Satellite Communications

Key Terms

SpaceX — the Leading Company in Space Aviation

SpaceX's Meteoric Rise: Over 100X growth to US$210billion; Paving the Way for a $1 Trillion Space Industry

Starlink: Bridging the Digital Divide

Developed Multiple Engines For Revenue Growth

SpaceX's
Starship

SpaceX in the Headlines

Light Years Ahead

Investing in SpaceX isn't just for large institutional investors, anymore. Invest in this rare opportunity through Alta at minimum ticket size of US$10,000.

Invest in this rare opportunity through AltaX

The Leading Company in Space Aviation and Satellite Communications

Key Terms

SpaceX — the Leading Company in Space Aviation

SpaceX's Meteoric Rise: Over 100X growth to US$210billion; Paving the Way for a $1 Trillion Space Industry

Starlink: Bridging the Digital Divide

Developed Multiple Engines For Revenue Growth

SpaceX'sStarship

SpaceX in the Headlines

Light Years Ahead

SpaceX's
Starship