Damac Capital reports strong ROI from SpaceX investment
Dubai entity invests in high-growth sectors
Damac Capital, the investment arm of Dubai-based Damac Group, has reported a strong return on investment (ROI) from its strategic stake in trendsetting space tech and exploration company SpaceX.
The Dubai entity is positioning its investment portfolio in high-growth sectors with substantial ROI potential and has been expanding into the global space tech industry since 2021. It has handpicked California-based SpaceX to invest in, including its groundbreaking projects, such as Starship and Starlink.
Founded in 2002 by Elon Musk, SpaceX has made groundbreaking strides in space tech and exploration. With ambitious projects like Starship and Starlink, the company aims to make space travel more accessible and enhance global internet connectivity.
SpaceX’s reusable rocket tech has dramatically reduced the cost of space launches, positioning it as a leader in the global space sector. The company’s innovations promise to drive future space missions and contribute to technological advancements that could reshape industries.
Space economy
As a result, SpaceX remains at the forefront of the space economy, which is expected to grow significantly in the coming years.
Since 2015, the global space sector has seen over $47 billion in private capital investments, growing at 21% annually. With expectations for the space economy to reach $1.8 trillion by 2035, Damac’s investments are poised to capitalise on this expanding market.
In addition to its space sector investments, Damac Capital has achieved a positive ROI from its investment in Stripe, a leading online payment processing platform based in Dublin, Ireland, that facilitates digital transactions for businesses worldwide.
Hussain Sajwani, Chairperson of Damac Group, stated: “Our investments in SpaceX and Stripe signify a strategic alignment with companies at the cutting edge of technological advancement and innovation.
“These investments are a testament to Damac Capital’s commitment to diversifying our portfolio and supporting enterprises with the potential to create transformative global impacts.”
With operations in North America, Europe, Asia, the Middle East and Africa, Damac Group has also entered the rapidly evolving AI sector by investing $50 million in Anthropic, an AI startup; xAI, an AI enterprise founded by Elon Musk; and Mistral, a France-based company that specialises in open-source large-language models.
The Damac Group’s investments span real estate, capital markets, hotels and resorts, manufacturing, catering, high-end fashion and data centres.
Edgnex Data Centres by Damac, the digital infrastructure company of Damac Group, is currently building data centres worldwide.
Featured image: SpaceX is at the forefront of the space economy. Credit: SpaceX
