S. Korea-based NXC invests $16 million in Elon Musk’s SpaceX
Nexon's holding company NXC revealed that it has invested $16 million in SpaceX, Tesla CEO Elon Musk's aerospace company.
According to NXC, it invested during SpaceX’s fundraising round in August, when the spaceflight company issued convertible preferred stocks.
At the time, SpaceX was raising $1.9 billion.
NXC’s $16 million investment, which is part of an investment strategy by Nexon founder Kim Jung-ju, comprises 60 percent of a fund created by a local asset manager to invest in SpaceX.
Kim left video game publisher Nexon in 2016 but remained the chairman of NXC.
NXC is rumored to be planning a takeover of Korean crypto exchange firm Bithumb.
In 2018, NXC acquired Bitstamp, Europe’s largest cryptocurrency exchange operator, for $350 million. It has also invested in cryptocurrency firm Tagomi.
Other companies that NXC acquired were European baby stroller maker Stokke and Bricklink, an online marketplace for Lego parts.