SpaceX 🚀 Shares and Silver Linings
Newsletter rundown:
SpaceX 🚀 Shares
Silver Linings
Final Word
SpaceX 🚀 Shares
This week, Tuttle Ventures closed an off market transaction in SpaceX at a compelling valuation.
SpaceX designs, manufactures and launches advanced rockets and spacecraft.
Due to the size and nature of the transaction, this deal was exclusively reserved for accredited investors on a limited basis. (SpaceX is not a publicly listed company)
To qualify as an accredited investor, a person currently must have at least $200,000 in personal income, or $300,000 for combined incomes, over the past two years, with the expectation of the same or higher income in the current year.
People with a net worth of more than $1 million jointly or with their spouse, excluding the value of their home, also qualify.
As we wrote back in September 2022, from Playing on the Sandlot— we believe the best deals in the private equity space come from an exceptional network.
A special thanks to Millenia Capital for the behind the scenes work.
The rationale behind this deal was fairly straightforward.
We believe SpaceX is positioned to grow strongly, no matter what macroeconomic conditions are like.
SpaceX continues to innovate in an industry that few can compete in.
The company works on behalf of NASA to transport astronauts to and from the International Space Station and runs private space tourism trips.
SpaceX owns the Starlink satellite Internet service provider, which has launched thousands of its satellites into orbit since January 2020, providing Internet connectivity to more than 40 countries and 400,000 subscribers.
The companies hold a unique position as a nationally security strategic partner for the United States.
Our investment in SpaceX demonstrates our commitment to provide tier 1 investment opportunities to our clients.
Silver Linings
While incumbent banks and venture firms are dealing with the fallout from Silicon Valley Bank, we believe there is a silver lining.
There is now a cost associated with money.
In a world of zero interest rates- many “pie-in-the-sky” ideas were funded at eye watering high valuations.
We believe now is a good time to review those investments and secure new cash flowing value companies.
As an emerging manager, our investments have not been directly impacted from bank mismanagement.
We do not know what the future will hold, but we are looking at current events as a silver lining, reducing excess and waste in capital markets that will reward patient investors in the long run.
We believe recent events will be to our advantage, and allows our firm to be in a better position to invest in the space. [ Pun intended ;) ]
Final Word
I am grateful and humbled to be able to learn, grow and invest alongside you at Tuttle Ventures.
We believe that Vision, Courage and Patience leads to successful investing.
Best,
Darin Tuttle, CFA
This is not investment advice. Do your own due diligence. I make no representation, warranty or undertaking, express or implied, as to the accuracy, reliability, completeness, or reasonableness of the information contained in this report. Any assumptions, opinions and estimates expressed in this report constitute my judgment as of the date thereof and is subject to change without notice. Any projections contained in the report are based on a number of assumptions as to market conditions. There is no guarantee that projected outcomes will be achieved.
Neither the publisher nor any of its affiliates accepts any liability whatsoever for any direct or consequential loss howsoever arising, directly or indirectly, from any use of the information contained herein.
Unless there is a signed Investment Management or Financial Planning Agreement by both parties, Tuttle Ventures is not acting as your financial advisor or in any fiduciary capacity.
Congrats on the access to SpaceX!