1、Private market equity investment activity and startup trends in the Space Economy from the investors at the forefrontQ1 20242024SPACE IQSpace Investment QuarterlyQ1Front cover image:Starlink satellites with direct-to-cell capability.Photo credit:SpaceX.Space Capital 2024The macro market in Q1 provid

2、ed many reasons for optimism with inflation nearing the Feds 2%target leading to signals that rate cuts are coming,a strong labor market,and soft-landing expectations combining to send public equities to all-time highs.Meanwhile,companies across the space economy achieved multiple milestones in Q1 t

3、hat demonstrated technical proficiency and innovation are moving beyond SpaceX to a broader set of rising stars.With$6.5B invested in Q1,there has now been$286.0B invested into 1,779 unique space companies since 2015.The total investment in Satellite infrastructure over the last decade overtook Laun

4、ch for the first time in Q1 signaling that the balance has shifted from getting things into orbit,to developing capabilities now that were there.Additionally,investment in geospatial intelligence(GEOINT)Applications overtook satellite communications(SatCom)for the first time,highlighting the growing

5、 demand for geospatial data from these orbital assets.During the quarter,more cutting edge capability came online with the launch of several important new Earth observation satellites including EDFs MethaneSAT,Muons MuSat-2,and ICEYEs three new SAR sats,which will contribute meaningful new data to t

6、he growing pipeline from orbit.But the biggest development of the quarter from a business and investment perspective was in SatCom.Starlink and other next-gen satellite systems have been the primary drivers behind the rapid decline in satellite capacity pricing,triggering a structural shift in the i