Vast's Ambitious Space Station Vision Attracts $300M Funding Round

The commercial space sector is witnessing a major inflection point. Vast, a company pioneering the development of the world’s first privately-owned commercial space station, is advancing negotiations for a fresh $300 million funding round that would push the company’s valuation to $2 billion, according to reports.

The funding discussions are being spearheaded by Balerion Space Ventures, though terms remain fluid as negotiations continue. This capital injection marks a significant milestone for the company’s rapidly scaling ambitions in orbital infrastructure.

From Vision to Hardware: Vast’s Development Timeline

Vast has set an aggressive roadmap for orbital deployment. The company plans to launch Haven-1, its inaugural prototype space station, by 2026. Following this initial platform, Haven-2—the next-generation facility—will begin component deployment in 2028. This successor is strategically positioned to eventually assume operational capacity that currently lies with NASA’s International Space Station, marking a pivotal shift toward commercial-led orbital operations.

Founder’s Decade-Scale Commitment Powers Growth

Behind Vast’s momentum stands Jed McCaleb, a serial entrepreneur whose previous ventures in the cryptocurrency ecosystem generated substantial wealth. As the architect of both Ripple and Stellar—two major blockchain infrastructure projects—McCaleb has demonstrated the capacity to translate visionary concepts into market-proven platforms.

His commitment to Vast extends beyond typical founder involvement. McCaleb has publicly stated his willingness to personally invest up to $1 billion to realize the company’s space infrastructure vision. This long-term capital commitment has been the primary funding source to date, providing the runway necessary to reach this current funding stage with external investors like Balerion.

Reshaping Orbital Commerce

Vast’s trajectory represents more than a single company’s growth story—it signals the maturation of commercial space infrastructure as an investment category. The transition from government-operated orbital facilities to privately-developed alternatives reflects the broader trend of private sector capability expansion in domains traditionally reserved for national space agencies.