Ontario Teachers’ goes high-tech with investment in Elon Musk’s SpaceX

July 10, 2019 | Venture Capital
https://dailyalts.com/wp-content/uploads/2019/07/50e9d642435ab114a6d98074cf213576083edbe35156774d76267e_640.jpg

Ontario Teachers’ Pension Plan eyes growth in satellite-based broadband

The Teachers’ Innovation Platform, a part of the Ontario Teachers’ Pension Plan, will invest an undisclosed amount in SpaceX, the rocket company founded by Elon Musk.

Teachers’ Innovation Platform (TIP) is based out of Toronto, London, and Hong Kong.

According to its website, it looks for investing gains from sectors and businesses that are undergoing technological transformation.

SpaceX rationale

TIP said SpaceX was a “compelling investment opportunity” and that it had “significant future growth potential” from its satellite broadband plans.

SpaceX plans to provide cheaper and better broadband internet services across the globe with its Starlink satellite network.

Founded in 2002, SpaceX is just $314 million short of its 2019 fund-raising target of $1.33 billion.

Free Industry News

Subscribe to our free newsletter for updates and news about alternatives investments.

  • This field is for validation purposes and should be left unchanged.


Shape

Latest Alternative Investment News

https://dailyalts.com/wp-content/uploads/2021/12/51629549260_00312e7f7d_c.jpg
Alternative Investments/Digital: Two Canadian Fund Managers Launch Metaverse Themed ETFs
December 1, 2021     Alternative Investments, Digital Assets, News

Canadian fund managers Horizons ETFs and Evolve Funds have launched the Horizons Global Metaverse Index ETF (“MTAV”) and the Evolve Metaverse ETF (“MESH”) respectively, on the Toronto Stock Exchange.

https://dailyalts.com/wp-content/uploads/2021/12/Solana.jpg
Digital Assets: Grayscale Launches Solana Trust, Protests SEC Rejection Of VanEck Spot Bitcoin ETF
December 1, 2021     Digital Assets, News

Grayscale Investments announced Tuesday the launch of the Grayscale Solana Trust to provide investors with exposure to Solana (SOL), the native token of the Solana network, a smart contract platform…

https://dailyalts.com/wp-content/uploads/2021/12/Jobandtalent_2.jpg
Venture Capital: Digital Temp Staffing Startup Jobandtalent Snags $500M Series E
December 1, 2021     News, Venture Capital

Madrid-based temp staffing marketplace Jobandtalent announced the closure of its Series E raise of $500 million at a valuation of $2.35 billion from Kinnevik and SoftBank Vision Fund 2. Existing…

https://dailyalts.com/wp-content/uploads/2021/12/black-g431352141_640.jpg
FinTech: BNPL Was “One Of The Stars” Of The Holiday Season For PayPal
December 1, 2021     FinTech, News

PayPal (NASDAQ: PYPL) enjoyed solid volumes for its buy-now-pay-later (BNPL) offering on Black Friday, continuing a trend the giant payments fintech observed all through November. In that month, for the…