Starburst Accelerator And Leonie Hill Capital Are Pleased To Announce Their Strategic Collaboration In Creating The First Global Venture Fund Dedicated To Aviation And Aerospace Startups: Starburst Venture
SINGAPORE, Nov. 29, 2016 /PRNewswire/ -- Starburst Accelerator and Leonie Hill Capital are pleased to announce their strategic collaboration in setting up the first global venture fund dedicated to aviation and aerospace startups. The venture fund is sized to 200M$ which will allow for investment globally over a period of 3 years. The new fund focuses on investments in early and growth stage companies. The fund will be led by three general partners including Francois Chopard founder of Starburst, and Leonie Hill Capital. Operations and first investments are expected as early as first quarter of 2017. "We appreciate the vote of confidence that Leonie Hill Capital, our anchor investor has placed in Starburst Accelerator, a testament to the immense amount of work and focus that our entire team has contributed to the business over the last few years," said Francois Chopard, CEO and Founder of Starburst Accelerator. "As we move into this next phase of expansion, we look forward to continuing to work with our highly valued portfolio of companies and industry leaders to usher in the next generation of aerospace." The fund will be focused on deep-tech startups addressing the aviation and aerospace industry. The investment team will be mainly based in San Francisco but Starburst Venture will leverage Starburst Accelerator's 4 existing operations, located in Los Angeles, Paris, Munich and Singapore, that have already demonstrated a consistent deal flow of investments for its first round of investment. The company has succeeded in bringing on board over thirty aerospace corporate partners around the globe to support the current accelerator program. More than 100 startups have joined the program with companies ranging from new space, future aviation including flying car and supersonic jets, passenger experience, connectivity, cabin, more electric aircraft, drone technology, simulation, artificial intelligence and additive manufacturing, sensors, nano tech, new materials, data analytics and cyber security.