Ontario Teachers’ Pension Plan made an investment in Space Exploration Technologies Corp., a designer, manufacturer and operator of advanced rockets and spacecraft.
The financial terms of the investment were not disclosed.
It is the inaugural deal by the Teachers’ Innovation Platform (TIP), which was launched in April 2019.
Founded in 2002 by Elon Musk, SpaceX SpaceX designs, manufactures and launches advanced rockets and spacecraft. The company, which has executed over 75 launches, is also working to launch Starlink, a next-generation satellite network capable of connecting the globe with reliable and affordable broadband internet services.
TIP focuses on late-stage venture capital and growth equity investments in companies that use technology to disrupt incumbents and create new sectors. SpaceX was identified as an investment opportunity for TIP due to its proven track record of technology disruption in the launch space and significant future growth potential in the satellite broadband market.
FinSMEs
28/06/2019