Jeff Bezos funded Blue Origin alone for 25 years.

Now, he's raising capital for the first time ever.

Blue Origin is reportedly seeking $10B from outside investors, at a pre-money valuation of $130B.

- Coatue Management leads with $4B
- Jezz Bezos will commit $2B personally
- The remaining $4B will come from institutions

The capital is expected to go toward New Glenn, Blue Moon, in-house engine production, and a new satellite internet network for enterprise, government, and data center customers.

The timing isn’t neutral.

SpaceX just IPO’d around $1.75T valuation, while Blue Origin is still working through New Glenn test setbacks and schedule delays.

- No disclosed IRR, cap rate or return structure yet
- Governance and liquidation terms are not public
- Investors are likely underwriting a 10+ year hold

The space race is on.

Can Blue Origin close the gap on SpaceX?

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