Business Overview

SpaceX is a privately held space infrastructure company operating across orbital launches and satellite-based broadband. The company has established itself as the global leader in launch services through its reusable rocket technology, which has materially reduced the cost per launch and enabled high-frequency operations. SpaceX now accounts for more than half of all global orbital launches, giving it unmatched operational scale.

Financials

Financially, SpaceX has transitioned from a launch-centric business to a more diversified revenue model driven increasingly by Starlink. The satellite broadband business has scaled rapidly into a large, recurring revenue stream, supporting overall revenues estimated at approximately $15 billion. This shift provides greater revenue visibility compared to traditional launch-only models.

Market Opportunity

The global space and satellite infrastructure market is expanding as demand for connectivity, data transmission, and orbital access continues to grow. SpaceX is uniquely positioned within this market due to its cost leadership, launch cadence, and vertically integrated operations across rockets and satellites.

Starlink adds a recurring, subscription-based revenue layer to the business, reducing reliance on episodic launch contracts and improving long-term cash flow stability. Combined with high barriers to entry driven by capital requirements, regulation, and engineering complexity, SpaceX has built a durable competitive position in the private space economy.

Investment is made through a segregated cell under a Cayman-regulated fund, with a dedicated SpaceX series used to pool investor capital for this opportunity.

Disclaimer

The information provided herein is a supplement only and does not purport to contain all of the terms, conditions, or risks of the offering. Investors should refer to the complete set of offering documents, including the Subscription Agreement, Operating Agreement, Risk Disclosures, Private Placement Memorandum, and any additional accompanying disclosures or series supplements for full details. Prospective investors are strongly encouraged to conduct their own independent due diligence and consult with their legal, tax, and financial advisors before making any investment decision.