Canadian fund invests in SpaceX
WASHINGTON —
A Canadian pension fund
is the latest investor in SpaceX as the company seeks to raise yet another multi-hundred-million round of funding.
The Ontario Teachers’ Pension Plan
announced June 27 it was making an investment of undisclosed size in SpaceX.
The Toronto-based fund, the largest single-profession pension plan in Canada, has $191.1 billion Canadian ($145.9 billion) in assets. The investment was first reported by CNBC.
That investment
is through a newly established department called the Teachers’ Innovation Platform (TIP), established by the pension plan in April.
TIP Teachers’ Innovation Platform
is devoted to what it describes as “late-stage venture capital and growth equity investments in companies that use technology to disrupt incumbents and create new sectors.”
While the fund didn’t disclose the size of its investment in SpaceX, the company has filed paperwork for another round, estimated to be $310 million.
The new round would value SpaceX as high as $35 billion.
SpaceNews.com