Lynx Mark I Under Construction / Image Credit XCOR Aerospace
Forbes reports that the Chinese venture capital firm Haiyin Capital has made a $5 million dollar investment in XCOR Aerospace. The investment is noteworthy for a number of reasons, and may be pointing the way to a brighter future for NewSpace firms looking for additional sources of capital. The potential for a smoother entry into one of the world’s most dynamic markets is clearly another. Interestingly, the appeal in this case is not so much based on attempt to leverage Chinese manufacturing, but rather because a growing wealthy class in China is looking for new ways to do something meaningful with that wealth, and for Haiyin at least, that means space.
The piece also contains some quotes from former COO Andrew Nelson, who pioneered XCOR’s wet-lease concept, regarding the manufacturing process. Referring to the investment,
“This round allows us to finish Lynx and build out a bigger marketing and sales program,” he told me. “It will also let us get through our test program and allow our wing design to mature. It’s a challenging wing to build. Six years ago we couldn’t build it, but now we can thanks to 3D printing of titanium parts and advances in composite materials.”