Technical vision

We built the first capability of commercial space.

Low-cost, rapid access to low Earth orbit. From that experience we built a blueprint of what must come next, and a roadmap for how the technology matures over the next 20 years.

Why now · 2026

The buyers are governments. The budgets are already committed.

Commercial satellites changed the outcome of a war in Europe, and every allied military drew the same conclusion: sovereign space capability is no longer optional. We invest where that demand is being paid for today.

5%of GDP on defence, NATO members by 2035
$1TUS annual defence budget, with space central to the build-out
2,100Golden Dome vendor contracts since the first awards, Nov 2025
+48%SpaceTech investment, year on year to Q4 2025, while general venture contracted

Sources: NATO Hague Summit declaration, June 2025; Seraphim Space Index, Q4 2025.

01 · Guarding Earth from space
  • Satellite ISR and Earth observation
  • Missile warning and tracking
  • Secure communications and PNT
  • Space domain awareness
02 · Hardware that moves things in space
  • Propulsion and responsive manoeuvre
  • In-orbit servicing and logistics
  • Spacecraft and on-orbit power
03 · Software that turns data into decisions
  • Ground systems
  • Mission software and autonomy
  • Dual-use platforms that sell while procurement runs
Technical vision · 2022

In 2022 we wrote down what space needs next. We still invest against it.

The HUMANUS team understands the future of the space industry because we built the initial capability of commercial space: low-cost, rapid access to low Earth orbit. From that experience we built our own blueprint of the technologies that must come next to grow a $1T space economy, and a portfolio roadmap for how they mature over the next 20 years.

Beyond LEOThe horizon · on our roadmap, outside today's mandate
  • Cislunar logistics
  • Asteroid surveillance and mapping
  • Jovian system development (water)
  • Solar cell improvements
  • Nuclear power and propulsion
  • Radiation protection
  • Human life support systems
LEOWe invest here today · 8 areas
  • Constellation data and broadband
  • Orbital debris mitigation and protection
  • Servicing and logistics
  • 'Maritime' defence of LEO commerce
  • AI, ML and RL for autonomous operations
  • Space-based power and climate solutions
  • On-orbit compute with better networks and data reduction
  • Launch innovation and cost reduction
GroundWe invest here today · 3 areas
  • Ground systems
  • Mission software
  • Dual-use platforms
Key technology areas from the HUMANUS Technical Vision, 2022. Solid: where we invest today, in low Earth orbit and on the ground. Outlined: the horizon.
  1. Vision

    A first-principles view of the technologies the space economy needs, built from direct engineering experience.

  2. Discipline

    We underwrite what has a buyer today: low Earth orbit and the ground. Beyond LEO matures over twenty years, so it stays on the roadmap, not in today's mandate.

  3. Selection

    Every company is filtered for alignment with the roadmap. We back what Space Economy 2.0 requires, not what is in vogue.

Governance.

Independent counsel, audit and administration from day one.

Investment committee100+ years of combined SpaceTech building and investing experience
Fund counselOsler, Hoskin & Harcourt
AuditorKPMG Canada
AdministratorNAV Fund Services
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