(Bloomberg) -- Ontario Teachers' Pension Plan has invested an undisclosed amount in Elon Musk's Space Exploration Technologies Corp.
The investment in the U.S. rocket company, which this week launched 24 satellites into space, is the first for Teachers' Innovation Platform, which focuses on companies that use technology to disrupt industries, senior managing director Olivia Steedman said in a statement.
Toronto-based Teachers' manages about C$191.1 billion ($142 billion) for retired teachers in Canada's most-populous province.
SpaceX is looking to raise $314 million from investors bringing total 2019 fundraising to $1.33 billion once completed, CNBC reported earlier Thursday.
On Tuesday, SpaceX launched its Falcon Heavy rocket for just the third time ever. The mission payload included LightSail 2, the first spacecraft in Earth orbit to be powered by sunlight.
To contact the reporter on this story: Paula Sambo in Toronto at psambo@bloomberg.net
To contact the editors responsible for this story: Nikolaj Gammeltoft at ngammeltoft@bloomberg.net, Jacqueline Thorpe
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