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Investor portfolio, from our funding record
Government-owned investor. Australian government corporation. This is the list our funding rule 3 uses: a round every one of whose leads is government-owned is state capital, not a private round.
Recorded in our rows as: NRFC.
Counted rounds
3
Led
2
1 as participant
Companies
3
Disclosed round value
$188M
3 of 3 rounds disclosed; whole rounds, not this investor's share
First deal
2026-01-20
Gilmour Space
Latest deal
2026-09-21
HEO
National Reconstruction Fund Corporation appears on 3 counted private space funding rounds in our records, into 3 companies: recorded as lead on 2 and as a participant on 1.
The earliest is Gilmour Space on 20 January 2026; the latest is HEO on 21 September 2026.
3 of the 3 rounds disclosed a size, together $188M. That is the size of the rounds National Reconstruction Fund Corporation took part in, not the amount National Reconstruction Fund Corporation invested: we hold no per-investor allocations and do not estimate them.
The investor most often on the same counted rounds as National Reconstruction Fund Corporation is AirTree Ventures, on 1 round.
Private funding rounds into space companies that name National Reconstruction Fund Corporation as lead or participant, newest first, each with its source. Round size is the whole round; a blank size was never disclosed and is not estimated.
| Date | Company | Stage | Role | Round size | Source |
|---|---|---|---|---|---|
| HEO | Series B | Participant | $25.0M | HEO (opens the source for this round) | |
| Southern Launch | Series A | LeadAs recorded: NRFC | $17.2M | Lot Fourteen (opens the source for this round) | |
| Gilmour SpaceRecorded as Series E | Series D and later | Lead | $146M | StartupDaily (opens the source for this round) |
Rounds come from company announcements, regulatory filings and press reports. Amounts, valuations and investors are as reported and may be incomplete or later revised. Not investment advice, and not an offer or solicitation for any security. Full disclaimer
| Stage | Rounds |
|---|---|
| Series A | 1 |
| Series B | 1 |
| Series D and later | 1 |
| Sector | Rounds |
|---|---|
| Launch | 2 |
| Analytics | 1 |
| Year | Rounds |
|---|---|
| 2026 | 3 |
Investors named on the same counted rounds, by the number of rounds shared.
Showing the 10 most frequent of 15 co-investors. The full list is part of a SpaceNexus Research seat.