The National Aeronautics and Space Administration is venturing where few government agencies have gone before it: exploring the financial space known as private equity. It doesn’t take a rocket scientist to realize there is a lot of money out there that could help boost NASA’s ambitions, and the fund, with the “working title” Red Planet Capital – obviously inspired by the agency’s eyes on Mars – may be just the vehicle to attract the private sector. Following in the footsteps of the Central Intelligence Agency and U.S. Army Special Operations Command with their In-Q-Tel and OnPoint funds, respectively, the new fund is looking to raise a modest $11million this year, with a $20 million target in succeeding years to “invest in new, promising technologies.” The agency, which says it will structure the fund on the lines of the CIA model, says it “anticipates that this approach might help some of NASA’s mission directorates in their future ‘make-versus-buy’ decision-making processes.” Right now, before the fund can take off, NASA is looking for someone to command the vehicle, through a request for information, the deadline for which is Feb. 28.
