1、Private market equity investment activity and startup trends in the Space Economy from the investors at the forefrontSpace Investment QuarterlyQ3 20232023Q3Front cover image:A rocket lifted off from Sriharikota,India,on July 14,carrying the Chandrayaan-3 robotic lander and rover toward the moon.Phot

2、o credit:R.Satish Babu/Agence France-Presse Getty Images.Space Capital 2023After 21 months of sustained headwinds,were not out of the woods yet.While the US economy continued to show signs of strength in Q3 driven by easing inflation and healthy spending,the venture market saw a wave of down rounds

3、reaching levels not seen since 2017.Dealmaking remained flat or declined across venture stages.Despite several IPOs during the quarter,rocky debuts for Arm and Instacart tempered expectations for a rush of new listings.With another$3.0B invested in Q323 there has now been$283.9B invested into 1,796

4、unique space companies over the past decade.Events during the quarter resulted in a shift in the world order;with Eutelsats acquisition of OneWeb,France now moves up to the#4 spot for total investment(#2 in Infrastructure).The top five countries receiving investment are now:USA,China,Singapore,Franc

5、e,and India.The latter successfully landed on the south pole of the moon during the quarter while,in a race to beat them there,Russia crashed into the lunar surface.Notably,despite their historical leadership in the space economy,Russia has seen negligible private investment and barely registers in

6、our quarterly data.In contrast to the broader venture markets,there were several indications that things are improving in the space capital markets.For example,103 rounds closed in Q3,the highest in five quarters.Additionally,24%of global space deals YTD were Series A vs 12%of all global venture dea