Vy Capital discloses a $40 billion stake in SpaceX, becoming the fifth-largest shareholder.

BlockBeats news, September 13, according to the Financial Times, the low-profile venture capital firm Vy Capital currently holds SpaceX shares worth approximately $40 billion, representing a stake of about 3.4%. According to Bloomberg data, the firm has become SpaceX's fifth-largest shareholder, with disclosed holdings surpassing those of Silicon Valley venture firms such as Sequoia Capital and Andreessen Horowitz. Vy Capital first invested in SpaceX in 2016, when the company was valued at approximately $15 billion; after SpaceX went public this year at a valuation of about $1.75 trillion, the value of its holdings grew significantly.

Vy Capital is also the largest outside investor in Musk's tunnel company The Boring Company and brain-computer interface company Neuralink, and it once committed $700 million to Musk's 2022 acquisition of Twitter. The firm's head, John Hering, has close ties with Musk and invested more than $100 million in SpaceX shortly after the Falcon 9 rocket launch failure in 2016; since 2019, he has also participated in building Starlink's early business, including recruiting personnel and building financial models, and once held a SpaceX employee badge. Currently, Hering serves as a director of The Boring Company, and Vy Capital also participated in a recent $3 billion financing round for the company.

Vy Capital's assets under management increased from $27 billion at the end of last year to $50 billion in June this year. In a letter to investors, the firm said that since its founding in 2014, its total internal rate of return has been 41%, and it has distributed $4.6 billion to investors. Vy Capital expects that if its investment judgment proves correct, SpaceX's valuation will exceed $10 trillion in the next 5 to 7 years. The firm currently has only dozens of employees, with a core investment team of 4 people, and it stopped accepting outside investors last year.