The company was founded by Rick Svetkoff, a former military pilot with decades of F-104 experience, and went public on NYSE American in December 2025. Svetkoff resigned as CEO, Chairman, and largest shareholder just two months after the IPO ā citing in his resignation letter "misallocation of corporate resources" and "the assignment of inexperienced personnel to critical positions." His wife, the Corporate Secretary, resigned at the same time.
The company's public identity has been shaped primarily by Fortuna Investments, a self-described venture capital firm led by Justus Parmar, a Vancouver-based operator whose prior ventures span e-mobility, cryptocurrency, cannabis, and cobalt mining ā all of which collapsed or were delisted. Fortuna was formally engaged as a consultant in September 2022 and is listed as a promoter on FJET's Form D filings. Six Fortuna affiliates have held roles at FJET, including four board seats and two CFO positions. The current CEO holds a BA in English Literature and previously produced an Emmy-nominated documentary about a Star Trek actress. He has no engineering background.
FJET positions its F-104 fleet as the world's only commercial supersonic air-launch platform. The pitch is that air launch eliminates the need for costly launch pads and infrastructure, offers scheduling flexibility, and provides global reach ā advantages that FJET argues allow it to undercut dedicated small launch vehicles like Rocket Lab's Electron on a cost-per-kg basis. The company claims its proprietary StarLaunch I rocket can deliver 100kg to Low Earth Orbit, with a four-rocket simultaneous configuration theoretically reaching 400kg.
A secondary revenue pitch targets U.S. defense contracts. In late 2023, FJET announced a subcontractor role on GE Aerospace's HyCAT hypersonic testing initiative. No public progress update on HyCAT has been issued since the announcement. The company's IPO offering circular also planned to allocate more capital to investor relations than to rocket inventory in a below-maximum raise scenario.