Vast, led by Jed McCaleb, is in talks for a loan with a valuation of $2 billion.

Ripple co-founder Jed McCaleb’s space venture Vast is accelerating negotiations for a new funding round. The company aims to build the world’s first commercial-scale space station, and with this financing, its valuation is estimated at $2 billion.

Overview of Vast’s Funding Round Founded by Jed

Sources indicate that Balerion Space Ventures is expected to lead this funding round. The targeted amount is around $300 million, but negotiations are ongoing, so the final figure may change. Jed McCaleb, involved in founding cryptocurrency companies Ripple and Stellar, is now expanding into the space industry.

Vast’s Unique Funding Structure and Personal Investment

Jed plans to invest up to $1 billion from his personal assets, and Vast has primarily been financed by founders holding billions of dollars in cryptocurrency assets. Jed’s personal commitment demonstrates a strong belief in the company’s long-term vision.

Haven-1 and Haven-2: Roadmap for Space Station Construction

Vast’s space station project is divided into two phases. The first is the launch of a prototype called “Haven-1” scheduled for 2026. Subsequently, the company plans to begin launching components for the full-scale next-generation space station “Haven-2,” which will serve as a successor to NASA’s International Space Station (ISS), starting in 2028.

Jed’s Strategic Shift to the Space Industry

Building on his success in the cryptocurrency industry, Jed McCaleb is actively investing in the space sector. The Vast project is not just a corporate investment but an ambitious effort to pioneer the era of commercial space stations, indicating Jed’s vision to promote the privatization of space exploration.