Quarterly release · Q2 2025
Which investors led the most disclosed space funding rounds in the quarter, and over the trailing twelve months.
Data as of · computed
Back-computed edition
This period closed before the release began publishing on a calendar. The figures are computed from the same tables, but this is a back-calculation rather than what we would have published at the time. Scheduled editions begin with 2026-Q2.
25 with a disclosed amount
A floor: undisclosed rounds contribute nothing
80.0% — the ranking below sees only these
11 in Q1 2025
Investors ranked by the number of rounds they are recorded as leading inside the quarter.
| # | Investor | Rounds led | Disclosed total | Median round | Sectors backed | Companies |
|---|---|---|---|---|---|---|
| 1 | Founders Fund | 2 | $2.55B | $1.27B | defense; manufacturing | Anduril Industries; EnduroSat |
| 2 | Linse Capital | 1 | $300.0M | $300.0M | infrastructure | Impulse Space |
| 3 | Accel | 1 | $260.0M | $260.0M | defense |
The same ranking over the four quarters ending with this one — the stabler table, and the one to cite for "most active".
| # | Investor | Rounds led | Disclosed total | Median round | Sectors backed |
|---|---|---|---|---|---|
| 1 | Founders Fund | 4 | $5.55B | $1.50B | defense; manufacturing |
| 2 | Lux Capital | 2 | $270.0M | $135.0M | infrastructure |
| 3 | Lockheed Martin | 1 | $2.40B | $2.40B | manufacturing |
| 4 |
Investors ranked by rounds they appear in at all, lead or otherwise. A different question from the lead table, and a weaker denominator.
| # | Investor | Rounds | Disclosed round value | Sectors |
|---|---|---|---|---|
| 1 | DFJ Growth | 1 | $300.0M | infrastructure |
| 2 | Eclipse | 1 | $260.0M | defense |
| 3 | Menlo Ventures | 1 | $260.0M | defense |
| 4 | Meritech Capital | 1 | $260.0M | defense |
| 5 |
Investors who led a round this quarter and led none in the previous 4 quarters of our records.
| Investor | Rounds led | Disclosed total | Companies |
|---|---|---|---|
| Linse Capital | 1 | $300.0M | Impulse Space |
| Accel | 1 | $260.0M | True Anomaly |
| Point72 Ventures | 1 | $200.0M | Apex |
| Lockheed Martin (strategic) | 1 | $105.0M | X-Bow Systems |
| Craft Ventures | 1 | $92.0M | Xona Space Systems |
| Hanaco Ventures | 1 |
Every round recorded in the quarter, largest disclosed first, with its source. This is the row set the tables above are computed from.
| Date | Company | Sector | Stage | Amount | Lead | Source |
|---|---|---|---|---|---|---|
| 2025-06-05 | Anduril Industries | defense | Series G | $2.50B | Founders Fund | TechCrunch |
| 2025-06-12 | Voyager Space | infrastructure | IPO | $402.3M | — | Business Wire |
| 2025-06-03 | Impulse Space | infrastructure | Series C | $300.0M | Linse Capital | SpaceNews |
| 2025-04-30 | True Anomaly |
Coverage limits travel with the numbers, here and in every export of them.
SpaceNexus Most Active Space Investors, Q2 2025. SpaceNexus, data as of 2025-06-30. https://spacenexus.us/releases/most-active-investors/2025-Q2. https://spacenexus.us/releases/most-active-investors/2025-Q2 (retrieved 2026-09-15).
Free to cite and embed with attribution. Data updates continuously; the citation date pins your retrieval.
By the SpaceNexus Desk
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Drafted by AI, fact-checked before publishing, corrected in public. How the desk works
| True Anomaly |
| 4 | Point72 Ventures | 1 | $200.0M | $200.0M | manufacturing | Apex |
| 5 | Lockheed Martin (strategic) | 1 | $105.0M | $105.0M | launch | X-Bow Systems |
| 6 | Craft Ventures | 1 | $92.0M | $92.0M | satellite | Xona Space Systems |
| 7 | Hanaco Ventures | 1 | $50.0M | $50.0M | infrastructure | Zeno Power |
| 8 | Index Ventures / Interlagos | 1 | $50.0M | $50.0M | infrastructure | Cowboy Space Corp |
| 9 | Northrop Grumman | 1 | $50.0M | $50.0M | launch | Firefly Aerospace |
| 10 | Congruent Ventures | 1 | $44.5M | $44.5M | analytics | Muon Space |
Computed over the 20 of 25 rounds in the quarter that name a lead investor.
Showing the first 10 of 19 rows. 9 more in this table, plus every column the display leaves out.
| Fidelity Investments |
| 1 |
| $2.00B |
| $2.00B |
| launch |
| 5 | Jeff Bezos | 1 | $1.00B | $1.00B | launch |
| 6 | Eric Schmidt | 1 | $800.0M | $800.0M | launch |
| 7 | Linse Capital | 1 | $300.0M | $300.0M | infrastructure |
| 8 | Accel | 1 | $260.0M | $260.0M | defense |
| 9 | Point72 Ventures | 1 | $200.0M | $200.0M | manufacturing |
| 10 | Tikehau Capital / AXIAL | 1 | $170.0M | $170.0M | satellite |
Computed over the 40 of 64 rounds in the trailing twelve months that name a lead investor.
Showing the first 10 of 36 rows. 26 more in this table, plus every column the display leaves out.
| Riot Ventures |
| 1 |
| $260.0M |
| defense |
| 6 | 8VC | 1 | $200.0M | manufacturing |
| 7 | a16z | 1 | $200.0M | manufacturing |
| 8 | Washington Harbour Partners | 1 | $200.0M | manufacturing |
| 9 | Balerion | 1 | $50.0M | infrastructure |
| 10 | JAWS | 1 | $50.0M | infrastructure |
Only 8 of 25 rounds in the quarter carry an investor list. Disclosed round value is the size of the rounds an investor appears in, NOT the amount that investor put in — we do not hold per-investor allocations and will not infer them.
Showing the first 10 of 22 rows. 12 more in this table, plus every column the display leaves out.
| $50.0M |
| Zeno Power |
| Index Ventures / Interlagos | 1 | $50.0M | Cowboy Space Corp |
| Northrop Grumman | 1 | $50.0M | Firefly Aerospace |
| Congruent Ventures | 1 | $44.5M | Muon Space |
| Alpine Space Ventures / a16z | 1 | $30.0M | Northwood Space |
Absence from the lookback window means we recorded no lead credit for that investor, not that the firm was inactive.
Showing the first 10 of 17 rows. 7 more in this table, plus every column the display leaves out.
| defense |
| Series C |
| $260.0M |
| Accel |
| True Anomaly |
| 2025-04-29 | Apex | manufacturing | Series C | $200.0M | Point72 Ventures | Payload |
| 2025-05-12 | X-Bow Systems | launch | Series B | $105.0M | Lockheed Martin (strategic) | PR Newswire / SpaceNews |
| 2025-06-26 | Xona Space Systems | satellite | Series B | $92.0M | Craft Ventures | Via Satellite |
| 2025-04-02 | Cowboy Space Corp | infrastructure | Series A | $50.0M | Index Ventures / Interlagos | TechCrunch |
| 2025-05-14 | Zeno Power | infrastructure | Series B | $50.0M | Hanaco Ventures | Payload |
| 2025-05-29 | Firefly Aerospace | launch | Strategic | $50.0M | Northrop Grumman | Northrop Grumman |
A blank amount means the round is real and its size was never disclosed. Nothing downstream infers one.
Showing the first 10 of 25 rows. 15 more in this table, plus every column the display leaves out.