Firehawk is working on a new private funding round that pegs its valuation around $1.25 billion, per people who asked not to be named because the discussions are private. The company is seeking about $100 million to $200 million. Rochefort Asset Management is leading the effort, and 1789 Capital, already an investor, is expected to participate.
Those same people noted that 1789 Capital counts Donald Trump Jr. as a partner. The talks are still active, and the terms could shift as negotiations continue.
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Launched in 2020 and based in Dallas, Firehawk develops rocket motors that use propellants including 3D printed materials and thermoplastics, with seven sites in operation, according to its website. A statement last month said the US Department of Defense awarded the company $24 million to increase production of advanced thermoplastic propellants.
In the prior year, 1789 Capital headed Firehawk's Series C, and Draper Associates, Decisive Point and Stellar Ventures took part. Presto Tech Horizons - created by Presto Ventures and CSG NV - participated as well. Spokespeople for Firehawk, 1789 Capital and Rochefort did not provide comment.
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