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Bogdan Gogulan (NewSpace Capital): The Down-to-Earth Space Industry


Surprising to many people is that most space industry activity is firmly grounded on Earth. Bogdan Gogulan, Managing Partner of NewSpace Capital, a private equity firm, explains how the Luxembourg-based company facilitates investment in the growing, earth-based, space ecosystem which he hopes offers the future of a safer and more sustainable world.

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Can you describe your company in a few words?


NewSpace Capital is a sector-focused firm. We provide growth capital to companies in the space market's supply chain and applications segments. In doing this we serve both the real sector and the investor community. On one hand, there is a lack of growth capital for space companies in Europe, and we are bridging this critical gap. On the other hand, investors are interested in tapping into the growing space ecosystem without taking the early technical risk. We provide opportunities to do both.


"We call our investment thesis “Down-to-Earth investments in Space,” because we focus on the Earth aspect of space business”

What role does Luxembourg play in your strategy?


Our team has over 150 years of space industry experience. And most of this mileage comes from Luxembourg’s space heritage in both established companies, like SES, and the emerging new space community. The conviction of the Luxembourg state and its dedication to the space thesis has turned Luxembourg into one of the global centers for commercial space. It is also emerging as one of the global centers for space finance. In Luxembourg, we are in the heart of Europe’s commercial space industry and global fund ecosystem.


What kind of investments do you make?


We call our investment thesis “Down-to-Earth investments in Space,” because we focus on the Earth aspect of space business – the supply chain companies on Earth that make space infrastructure possible, and downstream applications companies that make this infrastructure useful. We invest in companies that tackle critical challenges for the growth of the industry – like the continuous observation of our planet, next-generation communications solutions, and AI analytics of space data. The companies we invest in are far from being household names but are the backbone of a safer world and a new, more efficient, and sustainable economy.


  • Birthday: 8 May 1981

  • Place of birth: Estonia

  • Nationality: Estonia

  • Children: Two sons and two daughters

  • Languages: English, Russian, Turkish

  • Hobbies: Martial arts (Aikigoshinkan), Sailing


  • Cities: Tallinn, Paris, Istanbul,

  • Restaurants: Parrot (Tallinn), Sutis Emirgan (Istanbul)

  • Places: Pamir mountain range (Tajikistan), Wadi Rum desert in Jordan, island of Lombok, Estonian forest in the month of June

  • Books: “The King Must Die” and “The Bull from the Sea” by Mary Renault

  • Music: The English Concert by Bach

  • Artists: J.M.W. Turner

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