Quarterly release · Q3 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.
18 with a disclosed amount
A floor: undisclosed rounds contribute nothing
38.9% — the ranking below sees only these
19 in Q2 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 / Lux Capital | 1 | $260.0M | $260.0M | manufacturing | Hadrian |
| 2 | Interlagos | 1 | $200.0M | $200.0M | manufacturing | Apex |
| 3 | Natural Capital / Shrug Capital | 1 | $187.0M | $187.0M | manufacturing |
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 | 2 | $2.55B | $1.27B | defense; manufacturing |
| 2 | Fidelity Investments | 1 | $2.00B | $2.00B | launch |
| 3 | Jeff Bezos | 1 | $1.00B | $1.00B | launch |
| 4 | Eric Schmidt |
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 | a16z | 1 | $260.0M | manufacturing |
| 2 | Altimeter Capital | 1 | $260.0M | manufacturing |
| 3 | Founders Fund | 1 | $187.0M | manufacturing |
| 4 | Khosla Ventures | 1 | $187.0M | manufacturing |
| 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 |
|---|---|---|---|
| Founders Fund / Lux Capital | 1 | $260.0M | Hadrian |
| Interlagos | 1 | $200.0M | Apex |
| Natural Capital / Shrug Capital | 1 | $187.0M | Varda Space Industries |
| Eldridge Industries | 1 | $162.0M | Isar Aerospace |
| European Investment Bank | 1 | $67.0M | Cailabs |
| Yaletown Partners | 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 |
|---|---|---|---|---|---|---|
| 2025-08-07 | Firefly Aerospace | launch | IPO | $998.6M | — | CNBC |
| 2025-07-03 | CesiumAstro | satellite | equity | $270.5M | — | SEC EDGAR Form D |
| 2025-07-17 | Hadrian | manufacturing | Series C | $260.0M | Founders Fund / Lux Capital | CNBC |
| 2025-08-29 | Hermeus |
Coverage limits travel with the numbers, here and in every export of them.
SpaceNexus Most Active Space Investors, Q3 2025. SpaceNexus, data as of 2025-09-30. https://spacenexus.us/releases/most-active-investors/2025-Q3. https://spacenexus.us/releases/most-active-investors/2025-Q3 (retrieved 2026-09-15).
Free to cite and embed with attribution. Data updates continuously; the citation date pins your retrieval.
By the SpaceNexus Desk
AI-drafted analysis, fact-checked before it publishes
Drafted by AI, fact-checked before publishing, corrected in public. How the desk works
| Varda Space Industries |
| 4 | Eldridge Industries | 1 | $162.0M | $162.0M | launch | Isar Aerospace |
| 5 | European Investment Bank | 1 | $67.0M | $67.0M | ground-segment | Cailabs |
| 6 | Yaletown Partners | 1 | $34.0M | $34.0M | analytics | GHGSat |
| 7 | ATW Partners | 1 | $30.0M | $30.0M | launch | SpinLaunch |
Computed over the 7 of 18 rounds in the quarter that name a lead investor.
| 1 |
| $800.0M |
| $800.0M |
| launch |
| 5 | Linse Capital | 1 | $300.0M | $300.0M | infrastructure |
| 6 | Accel | 1 | $260.0M | $260.0M | defense |
| 7 | Founders Fund / Lux Capital | 1 | $260.0M | $260.0M | manufacturing |
| 8 | Interlagos | 1 | $200.0M | $200.0M | manufacturing |
| 9 | Point72 Ventures | 1 | $200.0M | $200.0M | manufacturing |
| 10 | Natural Capital / Shrug Capital | 1 | $187.0M | $187.0M | manufacturing |
Computed over the 42 of 72 rounds in the trailing twelve months that name a lead investor.
Showing the first 10 of 41 rows. 31 more in this table, plus every column the display leaves out.
| Lux Capital |
| 1 |
| $187.0M |
| manufacturing |
| 6 | Kongsberg Defence & Aerospace | 1 | $30.0M | launch |
Only 3 of 18 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.
| $34.0M |
| GHGSat |
| ATW Partners | 1 | $30.0M | SpinLaunch |
Absence from the lookback window means we recorded no lead credit for that investor, not that the firm was inactive.
| defense |
| equity |
| $200.6M |
| — |
| SEC EDGAR Form D |
| 2025-09-12 | Apex | manufacturing | Series D | $200.0M | Interlagos | PR Newswire |
| 2025-07-10 | Varda Space Industries | manufacturing | Series C | $187.0M | Natural Capital / Shrug Capital | SpaceNews |
| 2025-07-01 | Isar Aerospace | launch | Convertible Note | $162.0M | Eldridge Industries | Tech Funding News |
| 2025-08-26 | Aerospacelab | manufacturing | Series B | $110.0M | — | Aerospacelab |
| 2025-09-17 | Hubble Network | ground-segment | Series B | $70.0M | — | SpaceNews |
| 2025-09-12 | Cailabs | ground-segment | Round | $67.0M | European Investment Bank | Via Satellite |
A blank amount means the round is real and its size was never disclosed. Nothing downstream infers one.
Showing the first 10 of 18 rows. 8 more in this table, plus every column the display leaves out.