NewSpace Capital

Investment decisions sit with the partnership group. CEO Bogdan Gogulan and Executive Chairman Felix von Schubert co-founded the firm and lead deal execution alongside Partner Daniel Biedermann. Every investment-committee member brings an operator background from a satellite operator or aerospace manufacturer — Biedermann spent years at SES and Arianespace, CFO François Dubreucq spent 14 years in space finance, and Senior Advisor Padraig McCarthy was CFO of SES.

The firm’s deal flow relies on an advisory board with deep institutional access. Board members include a former Director General of the European Space Agency, a former head of NASA Ames, and the former head of the FAA’s commercial space office. The firm also draws on the commercial networks of its SES alumni, who maintain relationships with satellite operators, component manufacturers, and government procurement offices globally.

No. The firm explicitly avoids launch-vehicle and propulsion startups. Its mandate is confined to the supply chain and downstream applications — the so-called picks-and-shovels of the space economy. Every portfolio company must have existing revenue and customer contracts at the time of investment.

In 2025, Jon Nieman — G42’s Senior Vice President and Head of Investments — joined the firm’s board as a non-executive member. The relationship creates a direct connection to the Abu Dhabi technology ecosystem, though the two entities remain separate firms.

The firm publicly states it avoids pre-revenue companies and does not back launch-vehicle or propulsion ventures. It also does not invest directly in government-owned space programs.