Before SpaceX IPO, investors in China secretly acquired stakes

Some of the SpaceX investors on Kahlon’s ledger are easy to identify: the Indian politician Abhishek Singhvi; Betsy DeVos, the former US secretary of education; a British Virgin Islands company owned by Indonesian billionaires. But others on the list are shell companies whose ultimate owners remain hidden. One such company is a Delaware LLC called HAL9001 Partners Fund I, which invested roughly $10 million in a SpaceX fund in 2020. The incorporation documents for HAL9001 were signed by the venture capitalist Roman Sobachevskiy. The Treasury Department recently fined a company that was co-owned by Sobachevskiy hundreds of millions of dollars for managing a different investment on behalf of a sanctioned Russian oligarch . Sobachevskiy has not been personally accused of wrongdoing. A Tomales Bay Capital spokesperson said that the oligarch “had no involvement with the investment.” Sobachevskiy did not respond to questions, including who put up the money for the SpaceX investment. The records also shed some light on the connections between SpaceX and Qatar. Funds affiliated with Bracket Capital—an investment firm with offices in Los Angeles, London, and Qatar—invested about $48 million through a series of deals from 2017 through 2020, the documents show. Bracket has money from the Qatari royal family, according to an email that Kahlon sent to SpaceX’s CFO. …