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mu Space Corp founder to launch US$100 million venture unit2 min read

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Posted date October 9, 2018

mu Space Corp founder and CEO James Yenbamroong launches a venture unit worth over US$100 million in 2019.

Just when you thought space entrepreneurship has advanced pretty far, it takes another step forward!  With his satellite communications technology startup just founded in 2017 in Thailand, mu Space Corp founder and CEO James Yenbamroong wasted no time in launching a US$100 million venture unit!  Expected in 2019, the fund aims to provide funds to startups and medium-sized companies working in new space and deep tech sectors.  This includes products and services that improve the lives of people with artificial intelligence, robotics, space research and deep space exploration.  The 34-year old techpreneur says more funds will be raised, if needed, to support promising startups and companies.

We’ll generate $100 million as initial fund.

Yenbamroong’s bold move is to go international in partnership with private investors.  The space techpreneur says the venture unit will be based outside of Thailand. 

It can be in any country that can offer a conducive business environment for the venture unit to grow and operate. But for now, the nearest prospect is Singapore.

Yenbamroong is now scouting for innovative startups and early-stage businesses with a potential to disrupt the current market by developing products or services that are new to the world and can help improve the lives of people.  Examples of interested areas are artificial intelligence, robotics, space research and deep space exploration.  Yenbamroong says the future will see startups and businesses focusing more on commercial space flights, space tourism and in-space manufacturing.

We’re extremely optimistic about the sustained growth of the space industry. Without a doubt, the market potential for space-related activities is going up and there’s no stopping right now.

He could be right.  Investment firm Space Angels reports US$ 3.9 billion (THB 127 billion) of private funds worldwide have been invested in 2017 in commercial space companies. Of that investment, venture capital fund accounted for 40% or US$1.56 billion (THB 51 billion). 

The firm also found over 120 venture capital firms made investments in the space industry last year, a big jump from about 80 in 2016. 

Yenbamroong says momentum of the entrepreneurial space age is not slowing down from 2017 as in 2018 nearly 1 billion US dollars in private funds was invested in this year’s first quarter alone.

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