HOLLOMAN AIR FORCE BASE, NM -- 10/25/07 --
X PRIZE Foundation Executive
Summit -- Space Angels Network, LLC (
www.spaceangelsnetwork.com), a virtual
network of angel investors focused on seed- and early-stage investments for
space-related ventures, announced today the launch of its operations in the
U.S. and Canada. The company's online platform and strategic relationships
with venture finance and technology innovation organizations allow
individual accredited investors to connect with space entrepreneurs for
financing their innovative ventures.
"There is no question that a gap currently exists in the financing spectrum
available to seed- and early-stage space-related ventures, and there are
many angel investors around the U.S. and Canada eager to help fill that
gap," stated Burton Lee, CEO of Space Angels Investments, which operates
Space Angels Network. "We aim to provide that platform -- along with
exceptional service, value, and key strategic relationships -- to our
members."
Since the Paul Allen-backed Scaled Composites SpaceShipOne captured the
Ansari X PRIZE in October of 2004, substantial public interest has centered
on a number highly touted space ventures launched by prominent
entrepreneurs from various industries. These ventures are primarily
self-financed by wealthy individuals such as Elon Musk, Robert Bigelow,
Jeff Bezos, John Carmack, and Sir Richard Branson. These original "super
angels" -- now referred to as "Space Angels 1.0" -- are being followed by
the next wave of early stage investors, "Space Angels 2.0." Space Angels
Network provides an online platform and key strategic relationships
specifically aimed at these accredited investors who want to invest in
private
space-related ventures but prefer to syndicate their deals.
"It's a long-tail problem: The market for space ventures isn't very
efficient," says Esther Dyson of EDventure Holdings, a long-time angel
investor who is a member of New York Angels and has also invested in space
ventures such as Zero-G, Space Adventures, XCOR Aerospace, and
Constellation Services International. "Most angels don't know where to find
space deals, and most space start-ups don't know where to find the few
interested angels, who exist but are widely dispersed. This is a way of
matching the two sides effectively."
"I have been involved in a number of investments over the years, but I have
always had a personal passion for commercial space," said Jim Hayes, the
first angel investor member of Space Angels Network. "I feel that the
timing is right to get involved with a number of the emerging space
ventures, and Space Angels Network provides a vehicle for space-minded
investors to overcome limitations of space and time to seek out these
companies."
Given its unique virtual model, this new angel investor network also
provides space entrepreneurs with a valuable one-stop vehicle for reaching
potential investors across the country. In this way, entrepreneurs can
expand their professional networks well beyond their own contacts or local
angel investor groups.
"Aprize was fortunate early on to raise the initial funding needed to build
and launch its low-Earth orbit satellites for monitoring fixed and mobile
assets," said Dr. Dino Lorenzini, CEO of Aprize Satellite, Inc. based in
Fairfax, Virginia. "Now we are ready to commence commercial satellite
services, and are exploring several source of working capital, including
strategic partners and/or angel investors through Space Angels Network."
The group expects to serve members with a wide breadth of investment
interests, in terms of company maturity, deal size, and market focus. The
"sweet spot" will likely center on seed- and early-stage companies with
investments ranging from $250,000 to $2,500,000. However, the markets
served by these companies will likely be quite diverse, including
industries such as unmanned aerial vehicles (UAVs), sub-orbital launch
vehicles, aviation equipment and services, electronic sensors and
instrumentation for aerospace platforms, advanced materials, software,
tourism, real estate, gaming, and more traditional aerospace markets.
"When Scaled Composites won the Ansari X PRIZE, it drew public attention to
the fact that angel investors (in that case, Paul Allen) were willing to
take certain risks funding early stage space ventures," explained Guillermo
Söhnlein, co-founder of Space Angels Network. "However, it also
highlighted the need for a vibrant and efficient system to syndicate
smaller investments among a greater number of individual investors.
Imagining what that X PRIZE competition would have looked like if ALL the
participants had had access to an efficient ecosystem of seed capital is
precisely what triggered the initial idea to launch Space Angels Network."
The company will take this original concept one step further by offering
seed-stage investors a broad spectrum of aerospace investment
opportunities. In addition to the higher risk launch vehicle ventures,
members will be exposed to lower risk startup companies working in
technologies and markets that are more familiar to angel investors.
About Space Angels Network, LLC
Space Angels Network is a virtual network of angel investors focused on
seed- and early-stage investments for space-related ventures. The online
platform allows members to find investment opportunities, to connect with
like-minded accredited investors across the U.S. and Canada, and to
collaborate on due diligence and deal negotiations. Through its extended
strategic relationships with venture capital firms, angel investor groups,
government agencies, and other partners, Space Angels Network creates a
robust ecosystem for both aerospace entrepreneurs and investors to connect
for seed- and early-stage financing. For more information, please visit
www.spaceangelsnetwork.com.
Contact:
Brad Wills
Wills & Associates
(301) 346-7398
Email Contact
