Rick Tomlinson, Megan Crawford, Tommy Matt discussed on Main Engine Cut Off
Low end welcome back to main engine. Cutoff i am anthony colangelo. We've got a special guest with us today. We've got megan crawford who's a managing partner over at space fund also hosts mission eve. Podcast generally an all around great person. So we're going to talk about the finance side of space today. I don't cover it too much on the show. But i probably should more. So we're going to talk about some of the funding rounds you seen recently some of the exits that we've seen by way of acquisition either outright or two holding companies also when i pick her brain about the special purpose acquisition company trend that. We've been seeing that. I find quite shady. So we're going to talk about all of that but before we get there. I wanna say huge. Thank you to everyone who supports main. Engine cut off at main engine. Cutoff dot com slash support. Last show. i mentioned. We're almost at five hundred patrons. We are now at five hundred and two supporters over there. So thank you all so much for your support. That's awesome number two hit and this particular episode was produced by thirty six executive producers. Thanks to brandon matthew simon lauren. Melissa chris pat matt. George ryan donald. Lee chris warren bob russell maurice joel yon grant david eunice rob. Tim dodd. The ever dash not frank. Julian and lars from agile space. Tommy matt and seven anonymous executors. Thank you all so much for making this episode possible. If you wanna help join over there and support the show you also can get meco headlines in your podcast feed every single friday. I run through all the stories of the week. Talk about everything big to small to anything in the middle that have thoughts on that as important to know about so head over to main engine. Cutoff dot com slash support. Join up there three dollars a month level or more and you will get show every single week. It's an whole extra podcast in your feet every week. So anyway Let me talk to meghan. It's going to be great conversation. I'm really excited. And it's long overdue. So you recall well. Megan welcome to manage and cut off. This has been a year overdue at this point. An entire pandemic overdue. Maybe i'm happy that you're here talking to us. I'm really thrilled to be here. Thank you for having me anything so to start. I want everyone to meet you. Because you're awesome So you are a member of space fund. You also have this podcast mission eve. That is fantastic. Can you tell everyone a little bit about you sure. Yeah co founder and managing partner of space fund Where venture capital firm investing exclusively in the new space ecosystem so very kind of targeted fund And then i also have my podcast mission eve which I interview the most amazing women in the space industry. It's just been a thrill and just so much fun to do. And in the hopes of inspiring more women to join us here in the space industry So that's that's a project that's near and dear to my heart I'm also on. The board of several nonprofits needs to do a quick shout out the space frontier foundation. The center for space commerce finance mars initiative and the earth light foundation Spend an inordinate amount of my time helping those at nonprofits. So i think that's probably about it so we're gonna talk about a bunch of different angles on the finance side of stuff which i occasionally touch on but probably not as deeply as i should in many cases there's some fundraising that has happened. In the past year that has been particularly notable for the size specifically spacex relativity. Been getting gargantuan amounts of money there's some acquisitions that have happened recently. And then There's a whole trend of holding companies. That i find quite interesting as well as a trend that i find interesting and more shady. Which is this whole special purpose acquisition friend. Those are the things. I want to pick your brain about. Is there an order. would you like to start with fundraising and then get into what happens after. You've gotten a bunch of funding and actually accomplish things. What's the right order there. Yeah well I think i'd like to start with this kind of startling statistic that that i i like to I like to bring up a lot. Is that One and it's it's one of the reasons that spaceman was founded. Actually is you know. Currently launched comprises less than two percents of the global space economy yet has received seven percent of the venture capital. Today right sounds crazy but it. It makes such intuitive sense to like you know somebody watches the markets but exactly crazy. Yeah that's crazy. Yeah i like it when you hear that you're like oh yeah that seems right but holy crap. That's crazy just hear those numbers right and now the one question i would have is. Does that. include any space x funding as launch. Yes that includes spacex funding and includes the you know that big relativity rounded includes all of that. So i guess that's my that would be. My stipulation is like how. How do you separate out. What of that is going to starlink. zach satellites. Then does that skew it or is it not big enough to actually skew. Anything no matter how you classify either couple billion. Yeah so you know the regardless. It's it's a huge number even if he were to try and take starlink out of the kind of the space x portion of that. They're going to be forty percent of the venture right number exactly exactly and so you know when When my partner. Rick tomlinson and i were contemplating a founding space fund. You know this was one of the things that was really bothering us. We were kind of looking around the industry at all of our our friends and colleagues. Who are these brilliant entrepreneurs going and down sandhill road and couldn't get.