The collision of finance and technology has produced both turbulent markets and spectacular innovations. Disruptive innovations create new markets. Who has bought, who will buy, and what will they pay? What are the most important criteria investors look for in choosing ventures to fund? Does private equity activity or debt financing play much of a role in funding SmallSat operations and what effect does this have on management behavior? Recently the industry has experienced sustained investments in new systems and more private equity activity is focused on some of the larger players.
Investment in small satellite ventures originates from a variety of avenues including angel investors, venture funds, private equity firms, corporations, commercial banks, government and public markets. How do the varying demands of each of these sources of finance affect small satellite operations and planning? What are their expected returns and financing terms? What is the optimal way to secure capital for the startup phase of a venture and how does this differ from ongoing operations funding? Beyond the first funding round, how will investors approach adding capital to a maturing venture? What is the past and present performance of the sector and what are the current and expected trends for industry consolidation and M&A transactions?
The focus will be on different financial models and how operations including the overall positioning, level of vertical integration and cooperation with other industry stakeholders add to the value chain. What is the optimal way to secure capital for the startup phase of a SmallSat venture?
Beyond the first funding round, how will investors approach adding capital to a maturing venture? What is the past and present performance of the sector and what are the current and expected trends for industry consolidation and M&A transactions?
This workshop will also discuss the many nuances of pricing in the industry today, including developments of contract length, bargaining power of key customers, and most importantly, the bottom line of how much is being paid per MHz/Mbps, and how this has evolved. We aim to pry open the industry’s most closely-guarded secrets just a little bit to shed light on the most fundamental financial metric of any industry – what is the product or service worth.
Making the business case close is essential and hence how to structure your offering and present your leadership and partner options are important factors.
William Jefferson Black is the publisher of SatelliteFinance, which provides extensive global coverage of complex transactions in the private and public equity and debt capital markets, mergers & acquisitions, and corporate strategy considerations. He also serves as the publisher of TelecomFinance and the M& A journal, Transaction Advisors. These unique financial publications are provided by Finance Information Group, which provides valuation databases, books on corporate development, industry research, and M&A conferences.Sarah Chiles
Garrett Goldberg is a Partner at Bee Partners, a pre-Seed stage venture capital firm focused on supporting passionate Founders with deep market insights at the start of their journey. He focuses on identifying Founders and startups working on hard technology problems that service enterprises and enable new marketplaces.
He actively seeks investments in frontier technologies (drones, AI, NewSpace) and invests his time in building companies that matter. He is a partner to the Founders and organizations in the Bee community and believes time is worth more than money. An entrepreneur at heart, Garrett has worked in professional sports, real estate development, and technology. (BA, Stanford; MBA, Foster School, U. of Washington)Jason Rainbow
Jason Rainbow is Group Editor-in-Chief of Finance Information Group, which provides perspective and information on M&A, financing, and corporate strategy through investment conferences, and unique financial publications including Transaction Advisors, SatelliteFinance, and Connectivity Business (formerly TelecomFinance). Previously, Jason was Editor for SatelliteFinance and has covered the UK, Ireland and Nordic regions for TelecomFinance. Before that he wrote financial news digests for Reuters, covering small-cap UK companies as well as wider macroeconomic issues.Mark Watt
Mark Watt is a partner at Noosphere Venture Partners. NVP is a single-family office investment fund that is one of the most active investors in the new space economy. Recent space investments that NVP has made include Firefly Aerospace (launch), D-Orbit (deployment services), EOS SAR (synthetic aperture radar), EOS Data Analytics (image analytics) and SETS (plasma propulsion). Mark has over 25 years of experience in technology both as an investor, operator, and advisory.