Science & Technology

Angels Invest, Hope to Ascend


space angel

Seemingly sane businessmen are investing in commercial spacecraft and seemingly sane business reporters are writing about it.

The deal between Boston Harbor Angels and XCOR Aerospace, believed to be the first investment by a group of angel investors in a commercial launch company, raised hopes that others will follow.

"This industry is going to explode or fizzle," said John Hallal of the Boston group. "If it's successful, people will look back and say, `These Boston Harbor investors are smart guys.' If not, it's not the end of the world."…

Since most space tourism angels are individuals who can only put up so much capital, companies often have to lure more than one to keep their business running. Observers say the XCOR deal is significant because it is backed by an angel network that can pool its capital.

Another group has been founded as well. They call themselves the Space Angels Network. And hey, if the the business opportunities don't pan out, it's a great name for a girl band, so the URL won't go to waste.