Natural Capital

Counted rounds

Led

0 as participant

Companies

Disclosed round value

$608M

3 of 3 rounds disclosed; whole rounds, not this investor's share

First deal

2025-07-10

Varda Space Industries

Latest deal

2026-09-30

Varda Space Industries

Natural Capital appears on 3 counted private space funding rounds in our records, into 2 companies: recorded as lead on 3 and as a participant on 0.

The earliest is Varda Space Industries on 10 July 2025; the latest is Varda Space Industries on 30 September 2026.

3 of the 3 rounds disclosed a size, together $608M. That is the size of the rounds Natural Capital took part in, not the amount Natural Capital invested: we hold no per-investor allocations and do not estimate them.

The investor most often on the same counted rounds as Natural Capital is Founders Fund, on 2 rounds.

Portfolio: counted rounds

Private funding rounds into space companies that name Natural Capital 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.

Natural Capital counted rounds. 3 rows.
Date	Company	Stage	Role	Round size	Source
2026-09-30	Varda Space IndustriesRecorded as Series D	Series D and later	Lead	$251M	PR Newswire (opens the source for this round)
2026-03-26	Xona Space Systems	Series C	Lead	$170M	Xona (opens the source for this round)
2025-07-10	Varda Space Industries	Series C	Lead	$187M	SpaceNews (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

By stage, sector and year

Stage
Stage	Rounds
Series C	2
Series D and later	1

Sector of the company
Sector	Rounds
Manufacturing	2
Satellite	1

Year
Year	Rounds
2026	2
2025	1

Co-investors

Investors named on the same counted rounds, by the number of rounds shared.

Showing the 10 most frequent of 16 co-investors. The full list is part of a SpaceNexus Research seat.

How this page is built

Computed from the SpaceNexus funding record: every figure is a count, a sum or a date over our own rows, and every sentence is a fixed template filled from them. Nothing on this page is written or estimated by a model.
A round counts when it is a published private funding round into a space company, the rule behind our quarterly funding editions and the Most Active Space Investors release.
Investor names are read from each round's recorded lead and investor fields by fixed rules: co-leads written “A / B” or “A; B” are split, hand-checked spelling variants are merged and fund vehicles are credited to the firm that manages them. The wording as recorded is shown beside any row where it differs.
Only 468 of the 626 counted rounds in our records name any investor, so this is what our records show, not a complete list of Natural Capital's investments.
Pages join search engines once an investor appears on at least 2 counted rounds.
No investor pays to appear here or to change what is shown.

Newsletter

Headline figures

Portfolio: counted rounds

By stage, sector and year

Co-investors

How this page is built