private investment in the space industry

SpaceShipOne has sparked a lot of news about the beginnings of the
private space industry. While Paul Allen funded SpaceShipOne himself,
it seems that a more broad investor base is needed. I find the idea
of the Colony Fund (www.colonyfund.com) very interesting. They are a
venture capital mutual fund. This basically allows common investors
to take a part in supporting private space companies before they go
public. Venture Capital is key to helping startups get off the
ground. Do you think investors (beyond just space enthusiasts) are
ready for this?