Lightspeed Venture Partners is a global venture capital firm that focuses on early-stage and growth-stage investments across various sectors, including enterprise, fintech, consumer, and healthcare. While not exclusively focused on space, Lightspeed has demonstrated interest in the space industry through investments in companies like Vector, a revolutionary launch platform for small satellites. The firm manages approximately $25 billion in assets and has offices in multiple locations including Menlo Park, California, and internationally.
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Telesat has early arrangements to start launching nearly 300 Lightspeed satellites next year for services planned to begin in 2023.
Lightspeed has received about 1 billion Canadian dollars in combined funding from Canada’s federal government and Quebec’s provincial government to date.
Telesat has lined up Blue Origin and Relativity Space as early launch providers for Lightspeed and is in talks with additional launch partners it expects to announce 2021.
Telesat expects to start deploying its Lightspeed LEO constellation next year and has not finalized launch contracts.
Telesat announced plans on 2021-04-13 to raise $500,000,000 in debt to develop its Lightspeed LEO broadband network.
Telesat CEO Dan Goldberg expects to finalize contracts in the next couple of months to start launching nearly 300 Lightspeed satellites from next year.
Thales Alenia Space is building the Lightspeed low Earth orbit satellites under a $3,000,000,000 contract that includes network management software and gateway integration.
Dan Goldberg, Telesat’s CEO, expects to complete Lightspeed’s financing within the next couple of months as of 2021-04-06.
Quebec’s provincial government will invest 400 million Canadian dollars in Lightspeed and Canadian space hardware maker MDA to build the network’s phased array antennas.
Telesat is finalizing plans to start launching a Lightspeed constellation of nearly 300 satellites beginning in 2022.
Telesat expects Lightspeed will start offering services in 2023.
Telesat will issue senior secured notes due 2026 around 2021-04-27 as part of a debt package funding 60% of Lightspeed’s cost.
Telesat plans to raise $500,000,000 with a bond to help fund its $5,000,000,000 Lightspeed broadband constellation.
The Thales Alenia Space prime contract for Lightspeed was valued at $3,000,000,000 and includes network management software and integration of the satellites with gateways.
Telesat is seeking to start Lightspeed launches in 2022.
Telesat selected Thales Alenia Space on 2021-02-09 as the prime contractor to build the Lightspeed low Earth orbit constellation.
Telesat estimates the total cost of the Lightspeed system at $5,000,000,000.
Telesat plans to finance Lightspeed with a mix of 60% debt and 40% equity.
MDA identified supplying antenna systems for Telesat’s Lightspeed low Earth orbit broadband constellation as a flagship program that will generate $800,000,000 in revenue over several years.
Telesat’s Lightspeed constellation has an initial fleet plan of 300 satellites and options to expand to 1,600 satellites, creating a multibillion-dollar future opportunity if expanded.