The European Investment Fund (EIF) is committing €60m in equity to Alpine Space Ventures, a Munich, Germany-based venture capital fund focusing on the NewSpace sector.
The funding is backed by InvestEU and the CASSINI investing facility of the European Space programme, as well as by the European Recovery Programme (ERP) of the German government.
With this investment, ASV’s committed capital surpasses the €100m mark, bringing the fund closer to its target size of €160m, which is expected to be achieved later this year.
Founded by Bulent Altan and Joram Voelklein, Alpine Space Ventures specializes in investments in NewSpace technologies. NewSpace technologies generally refer to technologies that are developed for satellite communications, earth observation, or other space-related applications. The firm focuses on businesses in space-borne connectivity and data covering the entire satellite value chain including cutting-edge innovations in areas such as propulsion, advanced materials, remote sensing payloads such as synthetic aperture radar or radio occultation or data fusion, analytics and insights.
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 energy solutions for space vehicles.