Introduction and Alpine Space Ventures Overview
Munich-based Alpine Space Ventures (ASV), led by a former SpaceX executive, emerges as a prominent NewSpace fund in Europe. The VC firm focuses on satellite constellations and Earth observation throughout the value chain, aiming to tap into the trillion-dollar opportunity presented by spacetech.
The Visionary Founder and ASV’s Impressive Team
ASV was co-founded by Bulent Altan, a Turkey-born former senior executive at SpaceX, along with Joram Voelklein, a German entrepreneur and investment banker. Altan believes Europe can compete with the US private space market and envisions a vast potential in satellite development and servicing.
The ASV team includes experienced individuals from SpaceX and other notable aerospace companies, including Catriona Chambers and Hans Koenigsmann.
Expansion and Influence of Bulent Altan
Aside from ASV, Altan also serves as the co-CEO of Mynaric, a German company specializing in optical communication space terminals. He is also the chair of Isar Aerospace, a leading spacetech company in Europe. These roles reflect Altan’s significant influence and involvement in the spacetech industry.
€60M Funding Boost from the European Investment Fund
ASV is set to receive €60 million in equity from the European Investment Fund (EIF). This investment marks EIF’s first foray into a spacetech-focused fund.
Supported by InvestEU, the CASSINI investing facility, and the European Recovery Programme (ERP), the funding injection propels ASV’s committed capital beyond €100 million and brings the fund closer to its target size of €160 million.
ASV’s Investment Focus and Current Portfolio
ASV’s focus lies in spacetech investments at the Series A stage, with investment ranges of €1 million to €5 million. The firm has already made investments in companies such as Reflex Aerospace, Morpheus Space, Blackwave, and Source Energy. ASV plans to support an additional 11 companies in the coming years.
Support and Recognition for ASV’s Advancements
The investment from EIF through InvestEU signifies the importance of spacetech developments in Europe. It highlights ASV’s role in driving innovation and creating job opportunities in the sector.
ASV’s commitment to advancing European capabilities in the NewSpace industry is acknowledged by key figures such as Paolo Gentiloni, Commissioner for the Economy, and Marjut Falkstedt, CEO of EIF.