Investment firm Seraphim Space recently noted that driven by increased U.S. government spending on defense-related satellite systems and continued private-sector bets on launch capabilities, global investment in space technology reached a historic high in 2025. Data show that private investment surged by 48% to a total of $12.4 billion for the year, with the fourth quarter alone contributing $3.8 billion. This funding performance not only surpassed the peak in 2021 but also marked a full recovery for the industry from the downturn in 2022, significantly outpacing the broader venture capital market.
Space infrastructure is increasingly regarded as a strategic national priority, with countries competing to invest in pursuit of geopolitical advantages. The United States dominates this sector, accounting for approximately 60% of global funding last year with $7.3 billion in investment, thanks to its massive spending on launch services and defense-related projects. In December last year, President Trump signed an executive order designating space as a core national security and economic priority, a move expected to further boost industry funding. In contrast, growth in the European market has been moderate, while Asian investment remains high, with China contributing around $2 billion due to accelerated domestic launch and satellite manufacturing efforts.
Market attention is focused on SpaceX’s planned initial public offering (IPO) in 2026. The IPO aims to raise $1.5 trillion, which, if successful, would instantly make it the world’s highest-valued aerospace company and potentially place its founder, Elon Musk, among the ranks of trillionaires. However, even based on SpaceX’s projected revenue of at least $15 billion in 2025 and sustained high growth in subsequent years, its price-to-sales ratio estimated at the $1.5 trillion offering price would still be as high as 62 to 68 times, a valuation level that is striking.
For ordinary investors, direct participation in SpaceX’s IPO prospects remains unclear, but indirect investment opportunities exist. Accredited investors meeting specific asset or income thresholds may attempt to purchase SpaceX shares through companies specializing in secondary market private equity transactions, such as Hiive, EquityZen, and Forge Global (FRGE). However, it should be noted that such transactions may involve intermediary entities holding SpaceX equity, resulting in indirect ownership.
Additionally, investing in the Ark Venture Fund (ARKVX), managed by Cathie Wood, is another pathway. This publicly traded venture capital fund’s portfolio includes SpaceX and other unlisted technology companies. Purchasing shares of the fund means indirectly holding a partial interest in SpaceX, though it also involves exposure to other companies in the fund’s portfolio.
A more concentrated indirect investment approach involves Alphabet (GOOG, GOOGL), Google’s parent company. Alphabet acquired a 7.5% stake in SpaceX back in 2015, when SpaceX was valued at approximately $10 billion, and is believed to have retained it to this day. Based on SpaceX’s current valuation, this stake is worth over $112 billion. By purchasing Alphabet shares, investors can indirectly gain exposure to this portion of SpaceX assets.
