European Investment Fund & CNES Sign Agreement to Support Small & Medium Enterprises in Space Sector

KOUROU, French Guiana (CNES PR) — On Wednesday June 22, 2022, Jean-Marc Astorg, Director of Strategy at CNES, and Alain Godard, Managing Director of the European Investment Fund (EIF) signed a partnership agreement at the Guiana Space Center to support SMEs and companies intermediate sizes in the space sector. This in the presence of Kris Peeters, Vice-President of the European Investment Bank (EIB), responsible for the space and defense sector for the institution, and Marie-Anne Clair Director of the Guiana Space Center.

At the beginning of the year, the EIF and the ESA formalized a similar agreement. The agreement comes five months after the launch by Thierry Breton, European Commissioner for the Internal Market, of the CASSINI system supported by the European Union and whose implementation has been entrusted to the EIF. The CASSINI initiative, which aims to mobilize more than one billion euros, is intended to support the development and growth of start-ups in the space sector in order to stimulate private investment in this growing economic sector.

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EUSPA to Further Boost Space Investments with CASSINI Entrepreneurship Fund

PRAGUE (EUSPA PR) — The European Commission, the EU Agency for the Space Programme (EUSPA), the European Space Agency (ESA), and the European Investment Fund (EIF) committed to multiplying the benefits of space technology to businesses. This initiative implies attracting more private investment funds, running capacity building activities, sharing expertise, organizing matchmaking, and promoting the markets. CASSINI is central to this endeavour.

DG DEFIS Director-General Timo Pesonen, EUSPA Executive Director, Rodrigo da Costa, ESA Director-General Josef Aschbacher, Chief Executive of the European Investment Fund Alain Godard gathered at the Egmont Palace in Brussels on the occasion of the 14th edition of the European Space Conference 2022. During this event, they agreed on the principles of cooperation to support SMEs in the space sector, fostering on exchange of information and engaging in joint cross-functional actions towards space entrepreneurship. 

Dedicated to promoting the commercialization of Galileo, EGNOS, and Copernicus data and services to increase the market share of the EU space actors, EUSPA has been engaging with companies of all sizes from a broad spectrum of industries, many of which had not used space services in their activities before.

Through capacity-building, and supporting their access to financial resources, mentoring and market know-how, EUSPA helps to create breakthroughs for space entrepreneurship. 

The ‘’New Space’’ paradigm is however reshaping the industry’s landscape resulting in a greater need for better access to risk capital and other forms of growth financing. Anticipating this need, EUSPA is ready to take EU space entrepreneurship to the next level by leveraging investments, its know-how and capacity building within CASSINI Space Entrepreneurship Growth Funding Initiative, together with European Investment Fund, the European Commission, and the European Space Agency.   

These organisations are committed to bringing together their expertise and experience to leverage new investment support for the European space-based economy. The common objective is to create high-skilled jobs in the EU and improve the day-to-day lives of Europeans by supporting innovative companies and accelerating the development of new applications that use European global navigation satellite systems and earth observation services.

‘’EUSPA has a long history of cooperation with the European Investment Bank group and other private and public investors. I am pleased to see that today we reinforce our collaboration to support developing innovative, creative, and successful companies using EU space technologies,’’ said EUSPA Executive Director, Rodrigo da Costa. ‘’It is another step to contribute to the growth of the EU Space industry and its market share to boost our common economy in this very competitive global environment,’’ he concluded.

For more information, visit https://www.euspa.europa.eu.

EU Space: $1 Billion CASSINI Investment Fund Launched to Spur European Competitiveness

BRUSSELS (European Commission PR) — On the 25th of January 2022 in Brussels, and in the context of the CASSINI Initiative, European Commissioner for Internal Market Thierry Breton signed a joint statement, together with Vice-President of the European Investment Bank Kris Peeters and Chief Executive of the European Investment Fund Alain Godard, officialising their joint commitment for the “Cassini Seed and Growth Funding Facility.

The objective of this €1 billion space investment fund is to attract more venture capital funds to become active investors in European small and medium size companies developing space technology and digital services using space data.

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Luxembourg Invests in NorthStar Earth & Space That Establishes its European Headquarters in Grand Duchy to Support Sustainable Space Activities

LUXEMBOURG, DECEMBER 17, 2021 (NorthStar Earth & Space PR) – The Luxembourg Future Fund (LFF) will be investing in NorthStar Earth & Space. The investment is building on the announcement made in December 2019 of a partnership between Luxembourg’s Ministry of the Economy and the Canadian-based company.

For nearly four decades, Luxembourg has been at the forefront of commercial and co-operative initiatives that have shaped a vibrant space economy by attracting ground-breaking companies in this sector. NorthStar is the first commercial service aiming at monitoring space, from space, via a constellation of satellites with dedicated optical sensors to deliver timely and precise Space Traffic Data, Collision Avoidance and Navigation Services. Monitoring of space objects has, so far, mainly been done using ground-based data. This method gives information on the distribution of space objects but has limitations when it comes to small objects, which can also cause serious damages due to their velocity.

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European Investment Fund Announces €300 Million of Space Sector Finance with New Investments into Orbital Ventures & Primo Space

  • EIF attracts €300 million to support the innovation and growth of European smaller and medium-sized space technology companies under the InnovFin Space Equity Pilot,
  • New agreements with Orbital Ventures SCA SICAV-RAIF and Primo Space announced at the European Space Conference in Brussels.
  • The EIF’s participation is backed by the European Fund for Strategic Investments (EFSI), the main pillar of the Investment Plan for Europe.

LUXEMBOURG (EIF PR) — The European Investment Fund (EIF) is partnering with the European Commission, to announce €300 million of investments into the EU space sector, supporting ground-breaking innovation in the industry.

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‘Primo Space’ has Lift-off: First Italian Fund to Invest in Space Economy

  • Primomiglio SGR launches first Italian venture capital fund – ‘Primo Space’ – focusing on space investments, with first closing at €58 million and target size of €80 million.
  • European Investment Fund (EIF) and CDP Venture Capital SGR act as cornerstone investors in the fund, which was developed with the support of the Italian Space Agency.
  • €30 million EIF commitment backed by the new InnovFin Space initiative and the Investment Plan for Europe of the European Commission.

BRUSSELS (European Commission PR) — Italian fund manager Primomiglio  announces the first closing of Primo Space, an early stage venture fund focused on space start-ups.

The first closing of Primo Space reached an initial amount of €58 million with contributions of the European Investment Fund (EIB group), CDP Venture Capital SGR through the VenturItaly Fund of Funds, Compagnia di Sanpaolo, Luigi Rossi Luciani S.a.p.a., Banca Sella, in addition to the SGR itself and its key men.

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