FutureCorp Launches to Bring Frontier Economies to Public Markets

Business Wire

FutureCorp LLC (together with its affiliates, “FutureCorp”), a new investment firm that seeks to connect frontier economies with public-market investors, has announced its launch. FutureCorp expects to sponsor publicly listed vehicles focused on next decade’s frontier economies. This will include a series of special purpose acquisition companies and publicly traded funds holding late-stage private companies. FutureCorp’s first frontier is space. The firm’s first vehicle is FutureCorp Space Acquisition 1 (NYSE: FTRA), which priced its IPO with $200 million in gross proceeds yesterday and begins trading on the NYSE today.

Why now: the best companies of the last twenty years stayed private

As frontier technology leaders have stayed private longer, public-market investors have been excluded from the most consequential wealth creation opportunities over the past decade. U.S. initial public offerings have declined approximately 70% since 2000. Private markets have grown roughly seven-fold over the same period and are projected to reach $30 trillion by 2030. When these private companies ultimately access the public markets, compounding value creation has already occurred outside the reach of ordinary public investors. FutureCorp was formed to address that gap, democratizing access to later-stage private companies.

“Most of the consequential companies built over the past two decades have been built in private markets, and public investors have largely been bystanders,” said Sudhin Shahani, Founding Partner of FutureCorp. “We’re building FutureCorp to bring the leading companies of the next generation of frontier economies onto public markets earlier. Our first frontier is industrial space — FutureCorp Space Acquisition 1 is the first step on that journey.”

“We are proud to work with FutureCorp on providing space companies support on a variety of fronts, including access to the public markets,” said Chris Taylor, Chief Development Officer, NYSE Group.

Space as the first frontier

The cost of launching a kilogram to low-Earth orbit is expected to fall below $100 by 2029 — comparable to shipping a kilogram overnight from New York to Los Angeles. That threshold has unlocked a new wave of industrial space companies in space manufacturing, private space stations, in-orbit transportation, in-orbit computing, and additional categories still being defined. More than 40 privately held space companies hold unicorn valuations today, with several clear category leaders emerging. The pending public listing of SpaceX illustrates how much of this generation’s space-economy value has been built outside the reach of ordinary investors.

The team

FutureCorp’s founding partners include Sudhin Shahani, co-founder and former Chairman of Surf Air Mobility (NYSE: SRFM); Joshua Marks, Chief Executive Officer of Anuvu Corporation; David Anderman, former General Counsel of Space Exploration Technologies Corp. (SpaceX) and Co-Founder and General Partner of Stellar Ventures; and Matt Long, former General Counsel of Palantir Technologies (Nasdaq: PLTR), former General Counsel of Astranis, and former Vice President for Government at xAI.

FutureCorp Space Acquisition 1 is led by Mr. Shahani as Chairman, Mr. Marks as Chief Executive Officer and Chief Financial Officer, and Mr. Long as General Counsel. John Tuttle, former Vice Chairman of the New York Stock Exchange (operated by Intercontinental Exchange, NYSE: ICE), and Shawn Pelsinger, former Global Head of Corporate Development at Palantir Technologies (Nasdaq: PLTR), will serve on its board of directors alongside Mr. Anderman.

FutureCorp Space Acquisition 1

FutureCorp Space Acquisition 1 (NYSE: FTRA), the firm’s first listed vehicle, priced its initial public offering of 20,000,000 units at $10.00 per unit yesterday, for gross proceeds of $200,000,000 before any exercise of the underwriter’s over-allotment option. Cantor Fitzgerald & Co. acted as sole book-running manager. As described in its prospectus, FutureCorp Space Acquisition 1 intends to concentrate on companies in the global industrial space economy, including space manufacturing and component supply chains, launch platforms, in-orbit services and habitats, in-orbit computing and manufacturing, space-based telecommunications and Earth observation, and defense-related activities.

About FutureCorp

FutureCorp is an investment platform built to connect frontier economies with public-market investors.

The firm expects to sponsor publicly listed vehicles in frontier economies, beginning with space. Additional information is available at futurecorp.vc.

Forward-Looking Statements

This press release contains forward-looking statements regarding FutureCorp’s investment platform, its intended future vehicles, and its views on market and sector conditions. Actual outcomes may differ materially from those expressed or implied as a result of various factors, including those described in the public filings, if any, made by FutureCorp-affiliated vehicles. Nothing in this release constitutes an offer to sell or a solicitation of an offer to buy any security. Any future securities offerings by FutureCorp-affiliated vehicles will be made only by means of a prospectus filed with the SEC after the relevant registration statement has become effective. The offering of securities by FutureCorp Space Acquisition 1 is being made only by means of its prospectus; copies may be obtained from Cantor Fitzgerald & Co., 110 East 59th Street, New York, NY 10022, by email at prospectus@cantor.com, or from the SEC’s website at www.sec.gov. Forward-looking statements speak only as of the date of this press release, and FutureCorp undertakes no obligation to update them.