Intelligence Hub
Market analytics and operational performance indicators
Ownership Report - October 23, 2025
Khosla Ventures discloses 8% stake after internal distributions from KV V.
Brief
This Schedule 13D/A (Amendment No. 8) updates beneficial ownership by Khosla entities following pro rata distributions of 5.5M Rocket Lab shares by KV V to partners from Sep-Oct 2025. VK Services now directly holds 40M shares (8%), KV V holds 6.8M (1.4%), with Vinod Khosla controlling both. No transaction plans; purely investment posture.
Detailed Brief
Khosla Ventures entities, led by Vinod Khosla, originally invested in Legacy Rocket Lab's preferred stock from 2013-2020 ($28.2M), converted to ~115M common shares post-2021 SPAC merger with Vector Acquisition Corp. A 2025 holding company merger did not change proportions. This amendment, triggered by Oct 21, 2025 event, details Sep 8-Oct 21 distributions: 5x batches totaling 5.5M shares from KV V, with VK Services receiving 1.1M, now holding 40,036,964 shares directly (8.0% of 498M outstanding). KV V retains 6,823,617 shares (1.4%), controlled via GP KVA V (now 0 direct shares). Other entities show 0 shares. Purpose remains passive investment; reserves rights for future actions/discussions. Holders have registration rights for potential underwritten offerings >=$50M.
Key Telemetry
- • Khosla group beneficially owns 40,036,964 shares (8.0%) via VK Services direct holdings and control over KV V's 6,823,617 shares (1.4%).
- • KV V distributed 5.5M shares pro rata to partners (Sep 8-Oct 21, 2025), including 1.1M to VK Services, for no consideration.
- • No plans for business changes, management shifts, or transactions; investment only, with registration rights.
- • Total outstanding shares: 498,021,407 per Sep 15, 2025 prospectus.
- • Filed Oct 23, 2025, amending original Sep 2021 13D.
Impact Vector
Neutral for Rocket Lab investors; reflects internal VC fund restructuring to distribute shares to partners, maintaining Khosla's 8% stake and control without dilution or market sales. Signals potential future liquidity via registration rights but no immediate activist agenda or plans stated. Monitor for further distributions, sales, or engagement with management/board.