Spaced Ventures petition for SpaceX shares hits $11.4 million

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PARIS – In a little over a week, the crowdfunding platform Spaced Ventures has obtained pledges of $11.4 million from 758 individuals eager to invest in SpaceX.

The target is $25 million. That’s the figure Spaced Ventures executives think might attract the attention of SpaceX CEO Elon Musk, Aaron Burnett, Spaced Ventures CEO, told SpaceNews. (Neither Musk nor his company has backed this campaign to allow retail investors to own a piece of SpaceX.)

It all started with a petition.

Spaced Ventures, which helps connect early-stage space startups with retail investors, asked investors which private space company’s stock they would most like to own. More than 80 percent of respondents, picked SpaceX.

After that, Spaced Ventures created a page and began accepting nonbinding commitments on Sept. 14. As of Sept. 21, the median commitment was $1,000. The average was significantly higher thanks to three $1 million pledges that are easy to spot on the timeline.

If the pledges continue pouring in and Spaced Ventures succeeds in convincing SpaceX to accept the money, funds would be delivered in two ways.

Investments from accredited investors, who meet certain criteria such as earning $200,000 a year or working in finance, would be pooled. As would the smaller sums from nonaccredited investors.

Spaced Ventures has pledged to handle the investment without charging any management fees or carried interest.

Still, if SpaceX accepts the investment, Spaced Ventures would receive a certain percentage of the crowdfunded portion of the investment, not to mention publicity.

“If we do this right, our platform becomes the de facto space leader,” Burnett said.