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IHC-backed SpaceX completes $850m funding round

IHC-backed SpaceX completes $850m funding round
This sets the rocket and spaceship builder’s valuation at about $74 billion
IHC
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Abu Dhabi – Mubasher: International Holdings Company (IHC) announced that SpaceX has completed an equity funding round of $850 million.

This sets the rocket and spaceship builder’s valuation at about $74 billion, a 60% leap from a valuation of $46 billion at the time of its previous round in August 2020, IHC said in a disclosure to the Abu Dhabi Securities Exchange (ADX) on Tuesday.

In the second half (H2) of 2020, IHC acquired a 94% stake in Falcon CI IV LP, a private equity fund that has invested in the aerospace company.

There are a number of venture capital deals that we have invested in as part of our mandate to secure interests in fast growing, scalable technology, media and biotech ventures,” Chief Strategy and Growth Officer at IHC, Peter Abraam, said.

We were able to gain exposure in SpaceX via our fund acquisition in Falcon CI IV while other deals such as Oxford Nanopore Technologies, Multiply Marketing and YieldMo were done directly through acquisition or financing rounds,” he added.