Synopsis
Here is a summary of the key points from the Bryce report on investment in commercial space ventures in 2023:
- The report analyzes investment trends in start-up space companies that have received private financing. It tracks seed, venture capital, and private equity investment from 2000-2022.
- In 2022, there was $8 billion invested across 154 deals involving 123 companies and over 400 investors. This was a 46% decline from the $15 billion invested in 2021, reflecting tighter monetary policy and a global economic downturn affecting venture capital investment across industries.
- However, 2022 investment levels remain strong compared to pre-2021 years. The 5-year average annual investment as of end of 2022 was $8.2 billion.
- Venture capital declined the most of any investment type from 2021 to 2022. However, debt financing and acquisitions increased due to a few large deals.
- Public offering activity also declined significantly in 2022 after peaking in 2021, especially SPAC deals. This accounted for much of the overall investment drop from 2021.
- The report notes key factors that will shape the start-up space ecosystem: availability of capital given economic conditions, outcomes for large LEO constellations, government procurement for commercial space services.
- In 2022, over 50% of the 422 investors were first-time investors in start-up space companies. 225 investors were based outside the U.S.
- U.S. states with the most start-up space investors were California, New York, Texas, Virginia, and Florida. Top countries were China, UK, France, India, and Japan.
In summary, while investment declined from peak 2021 levels, 2022 saw continued strong interest in start-up space companies from investors globally. Economic and industry factors will shape future investment levels.
