The Financial Times says the low-profile venture capital firm backing Elon Musk has emerged as one of SpaceX’s largest shareholders.
Low-profile venture capital firm Vy Capital has built a $40 billion stake in SpaceX, the Financial Times reports. The FT describes the Musk backer as one of the rocket maker’s largest shareholders.
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Vy Capital has quietly become one of SpaceX’s largest shareholders, with a stake worth roughly $40 billion, according to reporting from the Financial Times.
The Financial Times report puts Vy’s holding at about 3.4 percent of SpaceX. That would make the Dubai-based investment firm the company’s fifth-largest shareholder, despite a core investment team reported to have only four people.
Vy first invested in SpaceX in 2016, when the rocket company’s valuation was around $15 billion. Its position has appreciated dramatically as SpaceX expanded launch operations and Starlink and reached a valuation measured in the trillions. The Next Web noted that the holding is larger than the disclosed SpaceX stakes of better-known Silicon Valley firms including Sequoia Capital and Andreessen Horowitz.
The number illustrates how concentrated gains can become in late-stage private technology companies. It also turns a low-profile fund into a major beneficiary of SpaceX’s rise, without the public visibility normally associated with a stake of that size.
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