Chapel Hill firm raises roughly $13.5M to buy stake in Elon Musk’s SpaceX – WRAL Tech Wire

CHAPEL HILL A fund established byMorgan Creek Capital Managementto buy a stake in Elon Musks Space X has raised roughly $13.5 million.

The Chapel Hill-based firm closed on the round under the business nameMorgan Creek Private Opportunities, LLC Series F- SpaceX on Thursday, according to a securities filing.

Seventy-three investors from 45 states contributed to the round, which kicked off Sept. 17.

Founded in 2012, SpaceXs goal is to reduce space transportation costs to enable thecolonization of Mars. Already, it has developedseveral launch vehicles, theStarlinksatellite constellation, theDragoncargo spacecraft, and flown humans to the International Space Station on theCrew Dragon Demo-2.

Last month, it reached an agreement with the US Space Forces Space and Missile Systems Center to recover the first stage booster. In May, it also teamed up with NASA to use SpaceXs Crew Dragon capsule for its first crewed launch in more than a decade.

Meanwhile, its also a busy time for Morgan Creek.

In October, it established another Opportunities Fund one of several in recent months toexplore blockchain opportunities. Total raised: $60.9 million.

The firm isa SEC-registered investment adviser providing investment management services to institutional and qualifying clients such as endowments, pension plans, foundations and family offices.

According to its website, the firm provides asset allocation, manager selection, and portfolio construction based on the University Endowment Model.

It also has offices in New York and Shanghai.

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Chapel Hill firm raises roughly $13.5M to buy stake in Elon Musk's SpaceX - WRAL Tech Wire