On June 27, Ontario Teachers’ Pension Plan (OTPP), Canada’s largest single-profession pension plan, announced that it will make an investment of an undisclosed amount in Space Exploration Technologies Corp. (SpaceX). According to press reports, in a filing made recently with the U.S. Securities and Exchange Commission, SpaceX disclosed plans for a new funding round with the aim of raising $314.2m, which would bring the company’s total 2019 fundraising haul to $1.33b. Analysts expect SpaceX to use the proceeds from the OTPP and other investments made as part of the new funding round to finance development of its planned 4,400-satellite Starlink low Earth orbit constellation, which will provide broadband Internet services worldwide, and its next-generation reusable launch system, which will feature an upper stage called Starship. SpaceX successfully launched the first 60 operational Starlink satellites on a Falcon 9 launch vehicle last month.
