Korea Investment Partners Co. (KIP), one of South Korea’s largest venture capital and private equity firms, has invested $10 million in Elon Musk’s SpaceX, citing the US aerospace company’s dual growth engine of reusable rockets and its expanding Starlink satellite Internet network.
According to investment banking sources on Wednesday, KIP purchased $10 million worth of existing SpaceX shares from employees in a secondary market transaction, valuing the company at $400 billion.
The deal was split evenly between KIP’s Korea Investment Continuation Fund and its Korea Investment US Signature Fund.
Korea Investment Partners
Founded by Tesla Chief Executive Elon Musk in 2002, SpaceX develops launch vehicles such as the reusable Falcon 9 rocket, which is used by commercial satellite operators and the US government.
The company’s Starlink division has deployed over 7,000…
