Founded 2007 | Type of business Privately held company | |
Industry Angel Investing, Venture Capital Products Investments, Angel Network Website www.spaceangelsnetwork.com Headquarters New York City, New York, United States | ||
Space Angels Network Inc. is a privately-held financial services company with a network of angel investors who are interested the aerospace industry. It is based in New York with virtual offices in London, Los Angeles, Hong Kong, Seattle, San Francisco, Stockholm, and Zurich. The typical investment is between $500,000 to $1,000,000 USD of equity. Space Angels Network operates as a financial services company in that it offers deal discovery, manages the deal flow pipeline, conducts due diligence, facilitates equity investment, and manages portfolio investments. More recently, it has developed an online platform with virtual deal rooms, where investors can see deal information and execute on investments.
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The company was founded in 2007 with four Founding Members and it has since added seven Founding Partners. As of July 2016 the network comprised 214 accredited investors across 26 countries. It has invested in 33 companies including four in H1 2016, mostly in Seed and Series A rounds.
History
Space Angels Network was founded in 2007 with the goal to manage and coordinate a network of angel investors that are specifically focused on the aerospace industry. The network began with four Founding Members: Esther Dyson (EDventure Holdings), Stephen Fleming (Atlanta Technology Angels), David S. Rose (New York Angels), and Ed Tuck (Falcon Fund).
Since 2012, with the addition of Chad Anderson as Managing Director, this mandate has expanded and involves deal discovery, managing the deal flow pipeline, conducting due diligence, facilitating equity investment, and managing portfolio investments. In 2015, Space Angels Network added seven Founding Partners: Eric Anderson, Esther Dyson, Yoel Gat, Steven Jorgenson, Nathan Kaiser, Joshua Schrager, and Dylan Taylor.
Accredited Investors
Membership in Space Angels Network limited to investors who qualify as accredited investors under Regulation D of the Securities and Exchange Commission. Currently the 214 investors have been actively sourced across multiple countries including: Australia, China, United States of America, United Kingdom, Sweden, United Arab Emirates, India, South Korea.
Deals
The number of deals executed through Space Angels Network as of H1 2016, stands at 33. Of the deals reviewed by Space Angels Network, only 5% are deemed investment grade and curated for presentation to members. Some of the more prominent deals by the network include Planetary Resources, Astrobotic, World View Enterprises, Planet (formerly Planet Labs), Firefly Space Systems, and Space Adventures. Notable co-investors include: Larry Page, Eric Anderson, and Peter Diamandis.
Investment Platform
Space Angels Network has developed a proprietary investment platform that provides investors with access to a deal room where they can browse and evaluate fund investment opportunities, view investment profiles, and sign investment documents. Deal rooms typically contain due diligence reports, pitch books, and an open dialogue with the start-up teams.
Expeditions
Expeditions are open to members of the Space Angels Network and typically involve multi-day trip to a city with established and emerging aerospace companies. Members tour the facilities of select companies and meet the team members. In 2014 it was in South California, in 2015 it was in Seattle, and in 2016 it will be in San Francisco.
Thought Leadership
In 2016, analysts at Space Angels Network published an article on the market for spacesuits. The report predicts that there will soon be a spike in spacesuit innovation along with a reduction the time required to bring a new product to market. With companies like SpaceX and Virgin Galactic entering the space industry, the next generation of spacesuits will be endowed with new capabilities. Customers will likely demand better communication, more comfort, flexibility, and aesthetic appeal.
Prior to this report, Space Angels Network published a blog outlining a segmentation of the space economy. The new framework is based on “Geographies”, with three primary geographical regions: Terrestrial, In-Space, and Planetary.
In response to proposed amendments to the FY 2017 National Defense Authorization Act (NDAA), Space Angels Network wrote a letter to Congress outlining their opposition to allowing excess intercontinental ballistic missile (ICBM) assets available for commercial use. The primary arguments are that the amendment would benefit one company and disrupt the hard-earned momentum in the emerging small satellite commercial launch market.
Earlier in March 2016, Space Angels Network participated alongside a coalition of 13 space companies to publish a space policy white paper titled “Ensuring US Leadership in Space”.
"The coalition lays out several policy proposals, which, if adopted, will help sustain U.S. leadership in space. Among them are: committing to predictable budgets, funding robust investments, promoting innovative partnerships, and repealing the Budget Control Act of 2011; continuing global space engagement through programs like the International Space Station; fully funding the Space Launch System, the Orion Multi-Purpose Crew Vehicle, and the Commercial Crew programs; providing increased resources for national security space and launch programs; promoting science, technology, engineering, and mathematics education; retaining U.S.-educated workers; and further reducing barriers to international trade."