Apr 5, 2024   SOURCE: BusinessWire

Trousdale Ventures Celebrates Space Economy Portfolio Companies In New Appointments

Trousdale Ventures, a venture capital firm specializing in space and mobility investments, announces that the founders of two portfolio companies, CesiumAstro and Venus Aerospace, have been appointed to leadership positions within Texas’s space industry. Shey Sabripour, Founder and CEO of CesiumAstro, was selected to serve on the Texas Aerospace Research and Space Economy Consortium (TARSEC) Executive Committee, and Sarah “Sassie” Duggleby, Co-Founder and CEO of Venus Aerospace, was named to the Board of Directors of the Texas Space Commission.

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Texas Governor Greg Abbott visits NASA’s Johnson Space Center to announce the inaugural members of Texas Space Commission Board of Directors and the Texas Aerospace Research and Space Economy Consortium Executive Committee. (Photo: Business Wire)

Texas Governor Greg Abbott visits NASA’s Johnson Space Center to announce the inaugural members of Texas Space Commission Board of Directors and the Texas Aerospace Research and Space Economy Consortium Executive Committee. (Photo: Business Wire)

“Sassie’s appointment to the Texas Space Commission and Shey’s to TARSEC’s Executive Committee is a testament to their outstanding contributions and leadership within the aerospace industry,” said Phillip Sarofim, Founder and CEO at Trousdale Ventures. “Their dedication to innovation and excellence has not only propelled their companies forward but contributed to the advancement of Texas’s space initiatives.”

Texas Governor Greg Abbott signed House Bill 3447 last summer, creating TARSEC and the Texas Space Commission to solidify Texas’s position as a global aerospace hub. HB 3447 strengthens the state’s position in all aspects of aerospace activity, including civil, commercial, and military aviation, as well as research and development, space exploration, and infrastructure.

Sabripour expressed his enthusiasm for the opportunity: “I am honored to join TARSEC and contribute to the future of space exploration and technology in our state. CesiumAstro is committed to driving innovation and pushing the boundaries of what’s possible in space. I look forward to collaborating with my fellow industry leaders to further our shared goals.”

Duggleby echoed Sabripour’s sentiments, emphasizing the importance of partnership in advancing Texas’s aerospace sector. “Venus Aerospace is dedicated to revolutionizing the aerospace industry. I am excited to leverage my role on the Texas Space Commission to foster collaboration, drive economic growth, and propel Texas to the forefront of the global aerospace industry.”

Texas has long been recognized as a frontrunner in the space industry. At the federal level, the state holds a pivotal position in NASA’s undertakings, largely owing to Houston’s Lyndon B. Johnson Space Center, which has been instrumental in advancing human spaceflight for more than six decades. In 2021, NASA’s activities contributed a staggering $9.3 billion to Texas’s economic output.

As Texas continues to solidify its position as a hub for aerospace innovation and investment, Trousdale Ventures remains committed to supporting the success and growth of its portfolio companies and contributing to the advancement of the state’s aerospace ecosystem.