ChainCatcher report, according to the Financial Times, the low-profile venture capital firm Vy Capital currently holds approximately $40 billion worth of SpaceX shares, representing a stake of about 3.4%. According to Bloomberg data, Vy Capital has become SpaceX’s fifth-largest shareholder, with a disclosed holding larger than that of Silicon Valley venture firms such as Sequoia Capital and Andreessen Horowitz. Vy Capital first invested in SpaceX in 2016, when the company was valued at approximately $15 billion; its stake has significantly appreciated since SpaceX went public this year at an estimated valuation of $1.75 trillion. Vy Capital is also the largest external investor in Elon Musk’s tunnel company, The Boring Company, and his brain-computer interface firm, Neuralink, and previously committed $700 million toward Musk’s 2022 acquisition of Twitter. The firm’s founder, John Hering, has a close relationship with Musk, investing over $100 million in SpaceX shortly after the failed Falcon 9 launch in 2016; since 2019, he has actively contributed to Starlink’s early development—including hiring personnel and building financial models—and once held a SpaceX employee badge. Hering currently serves on the board of The Boring Company, and Vy Capital participated in its recent $3 billion funding round. Vy Capital’s assets under management have grown from $27 billion at the end of last year to $50 billion as of June this year. In investor letters, the firm stated that since its founding in 2014, it has delivered a 41% internal rate of return and distributed $4.6 billion to investors. Vy Capital anticipates that, if its investment thesis materializes, SpaceX’s valuation could exceed $10 trillion within the next five to seven years. The firm currently employs only dozens of people, with a core investment team of four, and has ceased accepting new external investors since last year.
Vy Capital holds $40 billion in SpaceX shares, becoming the fifth-largest shareholder.
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Summary
Vy Capital holds $40 billion in SpaceX shares, or 3.4%, making it the fifth-largest shareholder—surpassing Sequoia and a16z, according to Bloomberg. The firm first invested in 2016, when SpaceX was valued at $15 billion. Following the recent IPO and a $1.75 trillion valuation, its stake has surged. Vy Capital also backs The Boring Company and Neuralink, and led a $30 billion funding round. It invested $700 million in Musk’s Twitter buyout and played an active role in Starlink’s early development. With $500 billion in assets under management, Vy expects SpaceX to reach a $10 trillion valuation within five to seven years. Amid fluctuating inflation data, top altcoin news remains a key focus for investors. The firm has paused accepting new funds and employs only dozens of staff.
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