SCOTTSDALE, AZ — An interval fund operated by Scottsdale-based Xcellerant Ventures is investing in Elon Musk's SpaceX, providing retail investors access to one of the largest aerospace companies in the world that could go public as early as this year.
Xcellerant Ventures closed an undisclosed secondary investment in SpaceX in early February via Jetstream Venture Fund, which it operates with Sweater Industries LLC, Doug Sylvester, general partner at Xcellerant Ventures, told the Business Journal.
Xcellerant Ventures announced the investment on Feb. 4, coinciding with the national launch of Jetstream Venture Fund, which the U.S. Securities and Exchange Commission declared effective in October.
“SpaceX was something we were working on for some time. As you might expect, because of all of the activity over the weekend, it ended up getting very complicated, but we were able to close it on [Feb. 2], so it was a pretty close deadline for our ability to announce it at our event [Wednesday] night," Sylvester said. "We were very excited to have got it done."
Musk on Feb. 3 announced the merger of his two private startups, SpaceX and xAI, in a deal that values the combined company at $1.25 trillion. The merger comes amid SpaceX’s plans for an initial public offering later this year that could value the company at more than $1.5 trillion, Reuters reported, citing two people familiar with the matter.
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