Blue Origin plans to raise $10 billion in private capital for the first time, achieving a valuation of $130 billion. The move marks a shift for the company long funded solely by founder Jeff Bezos.
The rocket company founded by Jeff Bezos is raising the funds through a mix of investors, according to DealBook. Coatue Management is expected to lead with a $4 billion commitment, while large institutional investors will provide another $4 billion. Bezos himself will contribute the remaining $2 billion.
The effort comes after plans were delayed by the late May explosion of the New Glenn rocket in Florida, which destroyed the company's only launch pad. Bezos has stated he aims to return the rocket to flight before the end of this year, though most observers expect a longer timeline.
Blue Origin, founded in 2000, is developing heavy-lift rockets, lunar landers, and two satellite constellations named TeraWave and Project Sunrise. The company seeks to compete with SpaceX in launch services and other space sectors.
Bezos has grown tired of self-funding the firm, which has required several billion dollars annually. The new capital is intended to limit his personal investment and support growth against competitors.
