Transaction Summary
Futuregrowth Asset Management (Pty) Ltd (Futuregrowth) has led a $3 million funding round in CubeSpace (Pty) Ltd (CubeSpace), a South African company specialising in satellite Attitude Determination and Control Systems (ADCS), which helps satellites maintain stability and precise positioning in orbit. CubeSpace has delivered more than 5,000 ADCS components to 250+ clients worldwide, supporting over 350 satellites. The company plans to use the financing to expand its flight-proven solutions beyond nanosatellites to include spacecraft in the 50–1,000 kg class. The investment was made through Futuregrowth's High Growth Development Equity Fund (HGDEF), launched in 2022, with a committed capital target of R1 billion ($54 million). The fund focuses on early-stage, high-growth South African businesses that serve niche markets or develop disruptive technologies in growth markets.
Terms
- Fund Managers: Futuregrowth Asset Management (Pty) Ltd
- Fund: High Growth Development Equity Fund (Futuregrowth)
- Target: CubeSpace (Pty) Ltd.
- Financing Type: Equity
- Investment Strategy: Growth Equity
- Financing
