The space sector has undergone significant transformations over the past decade, driven by disruptive business models and notable cost reductions, which have facilitated access to space, increased startup activity, and opened a new frontier. This shift, often referred to as the “New Space Economy,” marks a new paradigm in a domain traditionally led by public actors, reflecting the evolution of institutional procurement and the changing role of public space agencies alongside the growing participation of private capital. The sector is structured into two main segments: upstream covers space-system manufacturing and infrastructure; downstream comprises services and applications that use space-derived data. Despite the rapid growth in investment activity, the extent to which investor specialization shapes syndication patterns across these segments remains unclear.