Jump to content

Space Capital: Difference between revisions

From IdeaWazaWiki
Edited and updated article as per my edits in draft User:Lisuh1/sandbox. Updated new references and removed unrelated refs. Focused more on things that make the topic notable.
Line 8: Line 8:
| founder          =  
| founder          =  
| area_served      =  
| area_served      =  
| key_people      = Chief Executive Officer: Chad Anderson  
| key_people      = Chief Executive Officer: [[Chad Anderson (businessman)|Chad Anderson]]
| industry        = [[Angel investor|Angel Investing]], [[Venture Capital]]
| industry        = [[Venture Capital]]
| genre            =  
| genre            =  
| products        = [[Investments]], Angel Group
| products        = [[Venture Capital]], [[Angel investor|Angel Investing]]
| services        =  
| services        =  
| revenue          =     
| revenue          =     
Line 24: Line 24:
| divisions        =  
| divisions        =  
| subsid          =  
| subsid          =  
| homepage        = {{URL|spaceangels.com}}
| footnotes        =  
| footnotes        =  
| intl            =  
| intl            =  
| homepage        = {{URL|http://spaceangels.com/}}
| caption          =  
| caption          =  
| foundation      = 2007
| foundation      = 2007
| location_city    = [[New York City|New York]]
| location_city    = [[New York City|NewYork]]
| location_country = United States
| location_country = United States
| location        =  
| location        =  
Line 35: Line 35:
}}
}}


'''Space Angels''' (formerly known as '''Space Angels Network Inc.''') is a privately held financial services company with a group of [[angel investor]]s who are focused exclusively on the [[aerospace]] industry.<ref name=":0">'''The Tauri Group.''' ''Start-Up Space: Rising Investment in Commercial Space Ventures.'' Alexandria, VA : s.n., 2016</ref> It is based in New York with virtual offices in London, Los Angeles, Hong Kong, Seattle, San Francisco, Stockholm, and Zurich.<ref>{{Cite web|url=http://www.providencejournal.com/news/20160714/angels-sending-money-into-space|title=Angels sending money into space|last=Times|first=Samantha Masunaga Los Angeles|access-date=2016-07-26}}</ref><ref>{{Cite web|url=http://spaceref.biz/business-briefs/space-angels-network-establishes-hub-in-hong-kong.html|title=Space Angels Network Establishes Hub in Hong Kong - SpaceRef Business|website=spaceref.biz|access-date=2016-07-26}}</ref> The typical investment is between $500,000 to $1,000,000 USD of equity.<ref name=":0" /><ref>{{Cite web|url=http://swtimes.com/business/why-investment-space-companies-heating|title=Why investment in space companies is heating up|last=Times|first=Samantha Masunaga Los Angeles|date=2016-07-17|access-date=2016-07-26}}</ref> Space Angels operates as a financial services company in that it  offers deal discovery, manages the deal flow pipeline, conducts due diligence, facilitates equity investment, and manages portfolio investments. More recently, it has developed an online platform with virtual deal rooms, where investors can see deal information and execute on investments.<ref name=":1">{{Cite web|url=http://spaceangelsnetwork.com/faq/|title=FAQ - Space Angels Network|language=en-US|access-date=2016-07-26}}</ref>
'''Space Angels''' is an American angel investment and [[venture capital]] firm focused on early-stage investments in the [[Space industry|space economy]]. Based in New York City,<ref>https://www.reuters.com/article/us-space-exploration-china-startups/chinas-rocket-start-ups-go-small-in-age-of-shoebox-satellites-idUSKCN1S20PJ</ref> Space Angels is the world’s most active investor in the space economy.<ref>http://www.cbinsights.com/research/top-space-tech-startup-investors/</ref> As of May 3, 2019, the firm managed a $15 million Angel Fund and a $25 million venture capital fund.<ref>http://www.kratoscomms.com/constellations-podcast/vc-venture-investment-space-chad-anderson</ref>


The company was founded in 2007<ref name=":2">{{Cite web|url=https://www.crunchbase.com/organization/space-angels#/entity|title=Space Angels Network {{!}} CrunchBase|website=www.crunchbase.com|access-date=2016-07-26}}</ref> with four Founding Members and it has since added seven Founding Partners. As of July 2016 the group comprised 214 accredited investors across 26 countries.<ref name=":0" /><ref>{{Cite web|url=http://spacenews.com/continued-space-investment-growth-not-guaranteed-investors-caution/|title=Continued space investment growth not guaranteed, investors caution - SpaceNews.com|date=2016-04-14|language=en-US|access-date=2016-07-26}}</ref><ref name=":3">{{Cite web|url=http://www.bbc.com/future/story/20150810-rocketing-prices-the-investors-eyeing-the-riches-of-space|title=Rocketing prices: The investors eyeing the riches of space|last=Cruddas|first=Sarah|access-date=2016-07-26}}</ref> It has invested in 33 companies including four in H1 2016, mostly in Seed and Series A rounds.<ref name=":0" /><ref name=":2" />
== History ==
Founded in 2007 by Guillermo Söhnlein and Burton Lee, Space Angels Network began by facilitating a small group of space enthusiasts’ investments in the nascent New Space sector. Over its first five years, it grew from four to 20 investing members, but its scale was limited by its informal structure.<ref>https://www.hbs.edu/faculty/Pages/item.aspx?num=55897</ref>


== History ==
In 2012, [[Chad Anderson (businessman)|Chad Anderson]] was offered the opportunity to lead the organization. Anderson, at the time an MBA student at [[University of Oxford|Oxford University]], moved to New York after graduation to take on the full-time role of CEO.<ref>https://www.hbs.edu/faculty/Pages/item.aspx?num=55897</ref>
Space Angels was founded in 2007 with the goal to manage and coordinate a group of [[angel investor]]s that are specifically focused on the [[aerospace]] industry. The group began with four Founding Members: [[Esther Dyson]] (EDventure Holdings), Stephen Fleming (Atlanta Technology Angels), David S. Rose ([[New York Angels]]), and Ed Tuck (Falcon Fund).<ref name=":2" />


Since 2012, with the addition of Chad Anderson as CEO, this mandate has expanded and involves deal discovery, managing the deal flow pipeline, conducting due diligence, facilitating equity investment, and managing portfolio investments. In 2015, Space Angels added seven Founding Partners: [[Eric C. Anderson|Eric Anderson]], [[Esther Dyson]], Yoel Gat, Steven Jorgenson, Nathan Kaiser, Joshua Schrager, and [[Dylan Taylor (executive)|Dylan Taylor]].<ref name=":2" /><ref name=":3" />
Anderson took the next six years to professionalize, grow, and transform Space Angels Network. By 2015, Space Angels had shifted away from the decentralized investing model typical of an angel network. Space Angels began taking on a greater role in managing its members’ investments with the launch of an Angel Fund.<ref>https://www.hbs.edu/faculty/Pages/item.aspx?num=55897</ref>


In 2017, the company rebranded as Space Angels - dropping "Network" from the name, unveiled a new logo, and launched a new website.<ref name="spaceangels.com">{{cite web|url=http://spaceangels.com/press-releases/space-angels-network-rebrands-as-space-angels|title=SpaceAngels.com|website=spaceangels.com|accessdate=June 5, 2017}}</ref> As part of this rebranding a new company tagline was also announced: Explore | Invest | Ascend, which was said to reflect the company's new brand platform and belief that "space investing offers access to both adventure and meaning".<ref name="spaceangels.com"/>
In early 2017, Anderson rebranded the firm, dropping the word “Network” from its name, selecting a new logo. Later in 2017, the firm raised $5.7 million for an inaugural venture fund, Space Capital, with Tom Ingersoll joining as a Partner.<ref>https://www.hbs.edu/faculty/Pages/item.aspx?num=55897</ref><ref>http://spaceangels.com/press-releases/space-angels-network-rebrands-as-space-angels</ref><ref>https://www.pehub.com/2017/11/tom-ingersoll-joins-space-capital-partners-which-is-targeting-50-mln-for-first-venture-fund/</ref>


== Business Model ==
== Business Model ==
=== Accredited Investors ===
=== Accredited Investors ===
Membership in Space Angels limited to investors who qualify as [[accredited investor]]s under [[Regulation D (SEC)|Regulation D of the Securities and Exchange Commission]].<ref name=":0" /><ref name=":1" /> Currently the 214 investors have been actively sourced across multiple countries including: Australia, China, United States of America, United Kingdom, Sweden, United Arab Emirates, India, South Korea.<ref name=":0" /><ref name=":3" />
Membership in Space Angels Network limited to investors who qualify as [[accredited investor]]s under [[Regulation D (SEC)|Regulation D of the Securities and Exchange Commission]].<ref>https://www.spaceangels.com/membership-benefits</ref>
 
=== Deals ===
The number of deals executed through Space Angels as of H1 2016, stands at 33. Of the deals reviewed by Space Angels, only 5% are deemed investment grade and curated for presentation to members.<ref>{{Cite web|url=https://www.forbes.com/sites/alexknapp/2016/05/27/asteroid-mining-company-planetary-resources-raises-21-million-for-earth-observation/#578f1a334fa6|title=Asteroid Mining Company Planetary Resources Raises $21 Million For Earth Observation|last=Knapp|first=Alex|access-date=2016-07-26}}</ref> Some of the more prominent deals by the group include [[Planetary Resources]],<ref>{{Cite web|url=https://techcrunch.com/2016/05/11/the-race-to-the-moon-is-underway-as-astrobotic-raises-2-5-million/|title=The race to the moon is underway as Astrobotic raises $2.5 million|last=Calandrelli|first=Emily|website=TechCrunch|access-date=2016-07-26}}</ref> [[Astrobotic Technology|Astrobotic]],<ref>{{Cite web|url=http://www.fastcompany.com/3058795/the-next-frontier-for-ambitious-entrepreneurs-space|title=The Next Frontier For Ambitious Entrepreneurs: Space|date=2016-04-15|language=en-US|access-date=2016-07-26}}</ref> [[World View Enterprises]],<ref name=":2" /> [[Planet Labs|Planet (formerly Planet Labs)]],<ref name=":2" /> and [[Space Adventures]].<ref name=":0" /> Notable co-investors include: [[Larry Page]],<ref>{{Cite web|url=http://www.geekwire.com/2016/planetary-resources-asteroid-mining-earth-observation-21-million-funding/|title=Planetary Resources' asteroid miners focus on Earth observation with $21 million in new funding|date=2016-05-26|language=en-US|access-date=2016-07-26}}</ref> [[Eric C. Anderson|Eric Anderson]], and [[Peter Diamandis]].<ref name=":0" /><ref name=":2" />
 
=== Investment Platform ===
Space Angels has developed a proprietary investment platform that provides investors with access to a [[Virtual data room|deal room]] where they can browse and evaluate fund investment opportunities, view investment profiles, and sign investment documents. [[Virtual data room|Deal rooms]] typically contain due diligence reports, pitch books, and an open dialogue with the start-up teams.<ref name=":1" /> Without this investment platform, there would be a lack of advancements in the aerospace industry.<ref>{{Cite journal|last=Crouch|first=Geoffrey I.|date=2001-11-01|title=The Market for Space Tourism: Early Indications|journal=Journal of Travel Research|language=en|volume=40|issue=2|pages=213–219|doi=10.1177/004728750104000212|issn=0047-2875}}</ref> Private space investing has been growing very fast for the past 10 years. In 2015 there were more venture capital investments in the private space industry than in the 15 years prior and Space Angels plays a large role in this growing industry.<ref>{{Cite book|title=AIAA SPACE 2016|last=Christensen|first=Carissa B.|last2=Armstrong|first2=Kirsten|last3=Perrino|first3=Raphael|publisher=American Institute of Aeronautics and Astronautics|doi=10.2514/6.2016-5233|chapter = Start-Up Space: Rising Investment in Commercial Space Ventures|year = 2016|isbn = 978-1-62410-427-5}}</ref>
 
=== Expeditions ===
Expeditions are open to members of the Space Angels and typically involve multi-day trip to a city with established and emerging aerospace companies. Members tour the facilities of select companies and meet the team members. In 2014 it was in [[California|South California]], in 2015 it was in [[Seattle]], and in 2016 it was in [[San Francisco]].<ref>{{Cite web|url=http://spaceangelsnetwork.com/expedition/|title=Expedition|language=en-US|access-date=2016-07-26}}</ref>


== Thought Leadership ==
=== Online Platform ===
In 2016, analysts at Space Angels published an article on the market for [[Space suit|spacesuits]].<ref>'''Anderson, Chad.''' ''Under Pressure: Past, Present, and Future Spacesuit Market.'' New York : Space Angels Network, 2016. http://spaceangelsnetwork.com/content/uploads/2016/07/UNDER-PRESSURE-SPACESUIT-MARKET-REPORT-JULY2016-online.pdf</ref> The report predicts that there will soon be a spike in spacesuit innovation along with a reduction in the time required to bring a new product to market. With companies like [[SpaceX]] and [[Virgin Galactic]] entering the space industry, the next generation of spacesuits will be endowed with new capabilities. Customers will likely demand better communication, more comfort, flexibility, and aesthetic appeal.<ref name=":3" /><ref>{{Cite web|url=https://news.fastcompany.com/the-future-of-spacesuits-space-angels-networks-fascinating-report-4014241|title=The future of spacesuits: Space Angels Network's fascinating report|language=en-US|access-date=2016-07-26|date=2016-07-19}}</ref>
To facilitate the Angel Fund model, Space Angels pioneered a new online investment platform to streamline the communication of investment opportunities, simplify legal documentation, and drive greater investor engagement.<ref>https://www.hbs.edu/faculty/Pages/item.aspx?num=55897</ref>


Prior to this report, Space Angels published a blog outlining a segmentation of the space economy. The new framework is based on “Geographies”, with three primary geographical regions: Terrestrial, In-Space, and Planetary.<ref>{{Cite web|url=http://spaceangelsnetwork.com/2016/06/29/space-economy/|title=The Space Economy - Space Angels Network|date=2016-06-29|website=Space Angels|access-date=2016-07-26}}</ref>
=== Investments ===
Between 2015-2018, Space Angels made 37 investments in 26 portfolio companies, less than 2% of the companies it evaluated (over 500 per year as of 2018).<ref>https://www.hbs.edu/faculty/Pages/item.aspx?num=55897</ref>


In response to proposed amendments to the FY 2017 National Defense Authorization Act (NDAA), Space Angels wrote a letter<ref>{{Cite web|url=http://spaceangelsnetwork.com/2016/06/12/commercial-use-of-icbms-impact-to-investment-community/|title=ICBMs - Impact to Investment Community|date=2016-06-12|website=Space Angels|access-date=2016-07-26}}</ref> to Congress outlining their opposition to allowing excess [[Intercontinental ballistic missile|intercontinental ballistic missile (ICBM)]] assets available for commercial use.<ref name=":4">{{Cite web|url=http://newspot.me/n/03LQKRml?s=home|title=Space Angels Network Opposes ICBM Amendment to the 2017 National Defense Authorization Act|website=Particle News|language=en-US|access-date=2016-07-26}}</ref><ref>{{Cite web|url=http://nasawatch.com/archives/2016/06/more-opposition.html|title=More Opposition to ICBM's as Satellite Launchers - NASA Watch|website=nasawatch.com|access-date=2016-07-26}}</ref> The primary arguments are that the amendment would benefit one company and disrupt the hard-earned momentum in the emerging [[Miniaturized satellite|small satellite]] commercial [[Launch vehicle|launch]] market.<ref name=":4" />
Some of the most notable investments include [[SpaceX]],<ref>https://www.fool.com/investing/2019/05/18/10-top-space-start-ups-youve-probably-never-heard.aspx</ref> [[NanoRacks]],<ref>https://spacenews.com/nanoracks-raises-funding-for-commercial-airlock-module/</ref> [[Astrobotic Technology|Astrobotic]],<ref>https://techcrunch.com/2016/05/11/the-race-to-the-moon-is-underway-as-astrobotic-raises-2-5-million/</ref> [[Vector Launch]],<ref>https://spacenews.com/vector-space-raises-additional-funds-to-support-2017-first-launch/</ref> LeoLabs,<ref>https://www.leolabs.space/posts/leolabs-closes-13-million-series-a-to-expand-space-situational-awareness-and-mapping-platform</ref> [[Planet Labs|Planet]],<ref>https://news.crunchbase.com/news/space-tech-rockets-higher/</ref> [[Made In Space, Inc.|Made in Space]],<ref>https://www.fool.com/investing/2019/05/18/10-top-space-start-ups-youve-probably-never-heard.aspx</ref>  [[Iceye|ICEYE]],<ref>http://www.finsmes.com/2018/05/iceye-raises-34m-in-series-b-financing.html</ref> and others.


Earlier in March 2016, Space Angels participated alongside a coalition of 13 space companies to publish a space policy white paper titled “Ensuring US Leadership in Space”.<ref>'''Space Angels Network alongside a coalition of 12 space companies.''' ''Ensuring U.S. Leadership In Space.'' 2016</ref> <blockquote>"The coalition lays out several policy proposals, which, if adopted, will help sustain U.S. leadership in space. Among them are: committing to predictable budgets, funding robust investments, promoting innovative partnerships, and repealing the [[Budget Control Act of 2011]]; continuing global space engagement through programs like the [[International Space Station]]; fully funding the [[Space Launch System]], the [[Orion (spacecraft)|Orion Multi-Purpose Crew Vehicle]], and the [[Commercial Crew Development|Commercial Crew programs]]; providing increased resources for national security space and launch programs; promoting science, technology, engineering, and mathematics education; retaining U.S.-educated workers; and further reducing barriers to international trade."<ref>{{Cite web|url=http://nasawatch.com/archives/2016/03/coalition-of-13.html|title=Coalition of 13 Space Organizations Release Space Policy White Paper - NASA Watch|website=nasawatch.com|access-date=2016-07-26}}</ref><ref>{{Cite web|url=http://www.aiaa.org/EnsuringUSLeadershipInSpace/|title=Ensuring U.S. Leadership In Space : The American Institute of Aeronautics and Astronautics|website=www.aiaa.org|access-date=2016-07-26}}</ref></blockquote>
=== Space Capital ===
In 2017, Space Angels successfully raised $5.7 million of a targeted $50 million for an inaugural venture fund Space Capital.<ref>https://www.pehub.com/2017/11/tom-ingersoll-joins-space-capital-partners-which-is-targeting-50-mln-for-first-venture-fund/</ref> The fund subsequently raised $15 million for Space Capital in April 2019.<ref>https://www.sec.gov/Archives/edgar/data/1722993/000172299319000001/xslFormDX01/primary_doc.xml</ref><ref>https://www.pehub.com/2019/04/space-capital-has-raised-almost-15-mln-towards-debut-50-mln-fund/#</ref>


== Space Law & Regulation ==
==See also==
The investors in Space Angels will likely run into many regulations and laws revolving around the new frontier. Such laws will likely impact investment, but also protect investors. Space activities are conducted by governments, intergovernmental organizations, by hybrids, and by private civil entities.<ref name=":5">{{Cite book|title=Space Law: A Treatise (1st ed.)|last=Larsen PB|first=Lyall F|publisher=Ashgate Publishing Limited|year=|isbn=|location=Farnham, Surrey, England|pages=41–42}}</ref> Most investment by civil entities will be conducted in commercial space business. The drafters of the existing space law treaties did not foresee changes in the private ownership of satellites in orbit. This can cause problems if a privately owned satellite is transferred to a new owner located in a state different from the launching state. In such a case the registration and oversight responsibilities as well as the potential liability for damage of the original launching state or states under the OST or the other space treaties continue even though the original launching state is no longer the state appropriate to supervise the satellite.<ref name=":5" />
* [[Venture Capital]]
* [[Angel Investor]]
* [[Commercial use of space|Commercial Use of Space]]


== References ==
== References ==
Line 76: Line 70:


== External links ==
== External links ==
* {{URL|http://spaceangels.com/|Space Angels official website}}
* {{URL|https://www.spaceangels.com/|Space Angels official website}}
* [https://www.spaceangels.com/podcast Space Angels podcast]
* [https://www.spaceangels.com/information-central Space Angels blog]


[[Category:Private equity firms of the United States]]
[[Category:Private equity firms of the United States]]

Revision as of 06:36, 4 June 2019

Template:Use mdy dates Template:Infobox company

Space Angels is an American angel investment and venture capital firm focused on early-stage investments in the space economy. Based in New York City,[1] Space Angels is the world’s most active investor in the space economy.[2] As of May 3, 2019, the firm managed a $15 million Angel Fund and a $25 million venture capital fund.[3]

History

Founded in 2007 by Guillermo Söhnlein and Burton Lee, Space Angels Network began by facilitating a small group of space enthusiasts’ investments in the nascent New Space sector. Over its first five years, it grew from four to 20 investing members, but its scale was limited by its informal structure.[4]

In 2012, Chad Anderson was offered the opportunity to lead the organization. Anderson, at the time an MBA student at Oxford University, moved to New York after graduation to take on the full-time role of CEO.[5]

Anderson took the next six years to professionalize, grow, and transform Space Angels Network. By 2015, Space Angels had shifted away from the decentralized investing model typical of an angel network. Space Angels began taking on a greater role in managing its members’ investments with the launch of an Angel Fund.[6]

In early 2017, Anderson rebranded the firm, dropping the word “Network” from its name, selecting a new logo. Later in 2017, the firm raised $5.7 million for an inaugural venture fund, Space Capital, with Tom Ingersoll joining as a Partner.[7][8][9]

Business Model

Accredited Investors

Membership in Space Angels Network limited to investors who qualify as accredited investors under Regulation D of the Securities and Exchange Commission.[10]

Online Platform

To facilitate the Angel Fund model, Space Angels pioneered a new online investment platform to streamline the communication of investment opportunities, simplify legal documentation, and drive greater investor engagement.[11]

Investments

Between 2015-2018, Space Angels made 37 investments in 26 portfolio companies, less than 2% of the companies it evaluated (over 500 per year as of 2018).[12]

Some of the most notable investments include SpaceX,[13] NanoRacks,[14] Astrobotic,[15] Vector Launch,[16] LeoLabs,[17] Planet,[18] Made in Space,[19] ICEYE,[20] and others.

Space Capital

In 2017, Space Angels successfully raised $5.7 million of a targeted $50 million for an inaugural venture fund Space Capital.[21] The fund subsequently raised $15 million for Space Capital in April 2019.[22][23]

See also

References

  1. ↑ https://www.reuters.com/article/us-space-exploration-china-startups/chinas-rocket-start-ups-go-small-in-age-of-shoebox-satellites-idUSKCN1S20PJ
  2. ↑ http://www.cbinsights.com/research/top-space-tech-startup-investors/
  3. ↑ http://www.kratoscomms.com/constellations-podcast/vc-venture-investment-space-chad-anderson
  4. ↑ https://www.hbs.edu/faculty/Pages/item.aspx?num=55897
  5. ↑ https://www.hbs.edu/faculty/Pages/item.aspx?num=55897
  6. ↑ https://www.hbs.edu/faculty/Pages/item.aspx?num=55897
  7. ↑ https://www.hbs.edu/faculty/Pages/item.aspx?num=55897
  8. ↑ http://spaceangels.com/press-releases/space-angels-network-rebrands-as-space-angels
  9. ↑ https://www.pehub.com/2017/11/tom-ingersoll-joins-space-capital-partners-which-is-targeting-50-mln-for-first-venture-fund/
  10. ↑ https://www.spaceangels.com/membership-benefits
  11. ↑ https://www.hbs.edu/faculty/Pages/item.aspx?num=55897
  12. ↑ https://www.hbs.edu/faculty/Pages/item.aspx?num=55897
  13. ↑ https://www.fool.com/investing/2019/05/18/10-top-space-start-ups-youve-probably-never-heard.aspx
  14. ↑ https://spacenews.com/nanoracks-raises-funding-for-commercial-airlock-module/
  15. ↑ https://techcrunch.com/2016/05/11/the-race-to-the-moon-is-underway-as-astrobotic-raises-2-5-million/
  16. ↑ https://spacenews.com/vector-space-raises-additional-funds-to-support-2017-first-launch/
  17. ↑ https://www.leolabs.space/posts/leolabs-closes-13-million-series-a-to-expand-space-situational-awareness-and-mapping-platform
  18. ↑ https://news.crunchbase.com/news/space-tech-rockets-higher/
  19. ↑ https://www.fool.com/investing/2019/05/18/10-top-space-start-ups-youve-probably-never-heard.aspx
  20. ↑ http://www.finsmes.com/2018/05/iceye-raises-34m-in-series-b-financing.html
  21. ↑ https://www.pehub.com/2017/11/tom-ingersoll-joins-space-capital-partners-which-is-targeting-50-mln-for-first-venture-fund/
  22. ↑ https://www.sec.gov/Archives/edgar/data/1722993/000172299319000001/xslFormDX01/primary_doc.xml
  23. ↑ https://www.pehub.com/2019/04/space-capital-has-raised-almost-15-mln-towards-debut-50-mln-fund/#