Seattle, WA – June 20, 2013 – Space Angels Network, a global network of seed- and early-stage investors focused on aerospace-related ventures, announced an investment in NanoRacks LLC of Houston, Texas by Ed Tuck, a Founding Member of Space Angels Network and Principal of Falcon Fund. NanoRacks is a service provider that aggregates research and commercial payloads for companies aboard the International Space Station (ISS).
Proceeds from the financing will be used primarily to support construction of NanoRacks’ new external International Space Station (ISS) platform slated to begin offering sensor and electronics testing and hardware and satellite qualification services to customers in late 2014. The external rack is being built by EADS Astrium.
“Investors are taking a fresh look at the commercial space industry as a new generation of ventures like NanoRacks are gaining momentum. And organizations like Space Angels Network are critical for linking new investors to credible opportunities,” said Jeffrey Manber, CEO of NanoRacks.
Mr. Tuck, Founding Member of Space Angels Network, first learned about NanoRacks as an investor in Constellation Services International, the company from which it spun out. He invested again in this most recent round of financing after a presentation to Space Angels Network members in January. Mr. Tuck, said, “I was impressed by the quality of NanoRacks’ management and in particular by their record of finding customers in both public and private sectors”.
“NanoRacks is representative of the type of investment opportunity our members are interested in. It is a service provider that has significant expertise, revenue now, a large pipeline of contracted customers, and the potential to expand their offering to new markets like suborbital vehicles”, said Chad Anderson Managing Director of European Operations. The amount of investment was not disclosed.
About Space Angels Network, LLC
Space Angels Network is a professionally managed network of seed‐ and early‐stage investors focused on aerospace‐related ventures. Space Angels Network members share a common passion for promoting the development of the aerospace industry and related technologies while also earning attractive returns on private investments. The network allows members to discover unique investment opportunities, connect with like‐minded accredited investors and aerospace industry experts around the world, and collaborate on due diligence and deal negotiations. Through its extended strategic relationships with venture capital firms, federal science and technology agencies, state economic development organizations, incubators, research universities, incentive prize organizations, and other partners, Space Angels Network creates a robust ecosystem for both aerospace entrepreneurs and investors to connect for seed‐ and early‐stage financing. For more information, please visit
Headquartered in Houston, TX, NanoRacks is a privately held company that provides “plug and play” microgravity research facilities to commercial customers on the International Space Station (ISS) and beyond. The company was founded in 2009 by Jeffrey Manber, regarded as one of “the most pioneering commercial space entrepreneurs” and Mike Johnson, former NASA employee with MIR, Shuttle, Soyuz, HTV, and commercial space vehicle experience. The current customer pipeline of over 60 payloads includes domestic and international educational institutions, research organizations and government organizations, and has propelled NanoRacks into a leadership position in the emerging commercial market for low earth orbit space utilization and beyond.
About Falcon Fund
Falcon Fund is a small private venture capital fund specializing in seed and very-early-stage investments since 1982. Its principal is Ed Tuck, who forms and sometimes briefly manages technically-based companies. The Fund invests primarily in young companies in the telecommunications, software and specialty aerospace industries.