Private Spaceflight Gets A New Boost From Silicon Valley

If BVP's investment is successful, satellites could be launched for the price of a not-particularly-luxurious Manhattan apartment.

One of Silicon Valley's best-known venture capital companies is making a big bet on outer space. Bessemer Venture Partners (BVP), which manages more than $4 billion in capital and primarily invests in cybersecurity and enterprise technology firms, announced a new aerospace investment practice this week. The launch coincides with the appointment of satellite industry veteran Scott Smith as a part-time partner and an undisclosed Series B funding round in New Zealand firm Rocket Lab, which produces low-cost rockets designed to send miniature satellites into space.

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