Upon observing the European space sector in the late 2010s, early SpaceX engineer Bulent Altan and investor Joran Voelklein noticed similarities to the early days of American NewSpace. This led them to invest in German launch startup Isar Aerospace and eventually establish Alpine Space Ventures in Munich, Germany in 2020. After successfully raising their first $184 million (€170 million) fund, the largest first-time VC fund dedicated to space globally, they are focused on investing in the growing space industry in both the U.S. and Europe.
Their LPs consist of over 20 early SpaceX employees and major institutions like the European Investment Fund and the NATO Innovation Fund. The fund is aimed at making 10-15 investments, primarily in European companies, targeting areas like telecommunications and Earth observation. The firm’s strategy is aligned with SpaceX’s influence in opening up opportunities in the satellite sector, investing in companies that benefit from this growth rather than directly competing with SpaceX.
Alpine Space Ventures has already made five investments, including K2 Space and Reflex Aerospace, focusing on addressing the missing links in the space industry value chain. With a team boasting strong technical expertise, the firm aims to bridge the gap between promising technology and venture timelines in a sector known for its challenges in traditional venture investing.
Despite the unique challenges of the space industry, Alpine is committed to educating stakeholders on the rapid hardware iteration approach and the need for upfront capital investment in deep tech companies. As Europe begins to follow the U.S. in developing its space sector capabilities, Alpine sees significant opportunities for growth and innovation in the industry.
While the fund took longer than expected to close, geopolitical events like the war in Ukraine played a role. However, surpassing their target mark of €160 million was a positive outcome for Alpine Space Ventures, reflecting strong interest in supporting the growth of the space industry in both the U.S. and Europe.
