Vast
Overview
Private-capital commercial space station company founded by Jed McCaleb (Stellar/Ripple co-founder). Two-phase strategy: Haven-1 — a small standalone commercial space station (~3.3m diameter, 10m long) launched on SpaceX Falcon 9 in 2025 as a proof-of-concept; followed by Vast Station — a larger, modular follow-on. SpaceX partnership covers both launch (Falcon 9 for Haven-1) and crew transport (Crew Dragon for Vast-1 private astronaut mission). No institutional VC funding — McCaleb is the primary capital source.
Moat: Haven-1 is the first small-format commercial space station to reach orbit, giving Vast operational experience ahead of Axiom Station and Starlab. Jed McCaleb's personal funding eliminates dilution pressure from institutional VCs. SpaceX partnership for both launch and crew transport removes dependency on rocket development. Lean team and Silicon Valley speed culture targeting faster iteration than defense-prime competitors.
Business
Primary customers
- Commercial: Private astronaut clients (Vast-1 mission)
- Commercial: Research organizations (microgravity experiments)
- Government: Potential NASA CLD Phase 3 customer
Sectors
Commercial Space Stations · Crew Transportation (via SpaceX partnership) · Space Tourism
Key Products
- Haven-1operational
Small commercial space station (~3.3m diameter, 10m length) — launched on SpaceX Falcon 9 in 2025. Serves as a crew-capable micro-station and proof-of-concept for Vast's larger station ambitions.
First flight: 2025-05-01
- Vast Stationdevelopment
Full-scale modular commercial space station in early design. Follows Haven-1 as Vast's long-term orbital destination, designed for larger crew capacity and research throughput.
Near-term Catalysts
- 2025–2026
Vast-1 private astronaut mission to Haven-1 (SpaceX Crew Dragon)
First commercial crew mission to a non-ISS space station in history. Demonstrates Vast's ability to host astronauts and generate commercial revenue.
- 2025–2026
Haven-1 research module activation and first microgravity payloads
Activating research capacity generates first commercial revenue from scientists/pharmaceutical companies seeking microgravity experiments.
- 2026–2027
Vast Station design milestone (PDR/CDR)
Completes design of the full-scale follow-on station and demonstrates scaling beyond Haven-1.
Top Risks
- Single-funder concentration risk: Jed McCaleb is the primary capital source; any personal liquidity event or change in priorities could pause development.
- Haven-1 is small (crew of up to 4) — limited revenue capacity vs. ISS-scale competitors like Axiom Station.
- No confirmed institutional funding rounds; long-duration station economics require billions in capital over 10+ years.
- SpaceX partnership is a dependency — any Crew Dragon scheduling conflict or pricing change affects Vast-1 mission economics.
- NASA has not selected Vast for CLD Phase 2 — competing against Axiom and Starlab for the primary government anchor-tenant relationship.
Recent Milestones
- 2025-05-01
Haven-1 launched on SpaceX Falcon 9 — first commercial space station by Vast reaches orbit
- 2024-06-01
SpaceX and Vast announce partnership for Haven-1 launch and Vast-1 private astronaut mission
- 2023-05-01
Vast raises funding from Jed McCaleb bringing total investment past $300M; scales engineering team to 150+ in Long Beach
What investors should know
Q1What is Vast and who founded it?⌄
Q2What happened with Haven-1 in 2025?⌄
Q3How is Vast funded?⌄
Q4What is the Vast-1 mission?⌄
Q5How does Vast differ from Axiom Space and Starlab?⌄
Q6What is Vast's long-term business model?⌄
Q7What are the key risks for Vast?⌄
Peers
Sources & References
Press Release
Trade Press
- SpaceNews — Vast's Haven-1 Station Launches on SpaceX Falcon 9 · 2025-05-01(archived)
- SpaceNews — Jed McCaleb's Vast Space Targets Commercial Station with Haven-1 · 2024-06-01(archived)
- Payload Space — Vast's Haven-1: A Guide to the First Commercial Space Station · 2025-01-15(archived)