Alpine Space Ventures secures 60 million euros from the European Investment Fund

Alpine Space Ventures receives €60 million from the European Investment Fund to invest in the satellite market. The EIF investment is supported by the EU space initiative CASSINI, the InvestEU program and Germany's ERP funds.

The European Investment Fund (EIF) is investing €60 million in equity in Alpine Space Ventures (ASV), a German-based venture capital fund focused on the NewSpace sector. The funding is supported by InvestEU and the European Space Program's CASSINI investment platform, as well as the German government's European Recovery Programme (ERP). With this investment, ASV's committed capital exceeds €100 million and brings the fund closer to its target volume of €160 million, which is expected to be reached later this year.

This InvestEU agreement will accelerate the development of new space technologies and put European companies at the forefront of this rapidly developing sector.

Paolo Gentiloni, European Commissioner for Economic Affairs

The term "NewSpace" refers to the private space industry as opposed to the traditional, mostly government-run space agencies. NewSpace companies extend into areas such as private space launches, high-speed Internet constellations, Earth observation satellites, and ground or space equipment for tracking space debris. In Europe, the NewSpace sector consists of a growing number of private companies and start-ups developing commercial NewSpace technologies.

The commitment of the European Investment Fund to invest €60 million in Alpine Space Ventures is a significant milestone for us.

Joram Voelklein, Founding Partner Alpine Space Ventures

The fund focuses on the entire value chain of satellite constellations and Earth observation. To date, ASV has already invested in four companies: small satellite manufacturer Reflex Aerospace, electric propulsion company Morpheus Space, carbon composites expert Blackwave, and Source Energy, a provider of integrated power solutions for spacecraft.

Space has become a source of very important technological developments, and its importance will continue to grow in the coming decades.

Marjut Falkstedt, CEO European Investment Fund

With investments from the EIF, Primepulse and several other family offices, Alpine Space Ventures is well positioned to drive growth in the NewSpace ecosystem. Most recently, ASV has also attracted more than 20 executives and early employees of SpaceX as Limited Partners. This expansion of Limited Partners provides portfolio companies with the opportunity to benefit from additional reach and specialized expertise.

About Alpine Space Ventures

The fund was founded by Bulent Altan and Joram Voelklein. Bulent Altan is Co-CEO of laser communications company Mynaric and is expected to join the Board of Directors (subject to shareholder approval). He was vice president of avionics, navigation and control at SpaceX, where he was also chief engineer for Starlink, SpaceX's satellite Internet constellation. This now operates in 53 countries. Joram Voelklein, a German entrepreneur and technology investor, previously played a critical role in funding Munich-based NewSpace company Mynaric from its first round of financing to its IPO in 2017.