UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

SCHEDULE 13G

Under the Securities Exchange Act of 1934

(Amendment No. ___)*

BlackSky Technology Inc.

(Name of Issuer)

Class A Common Stock, par value $0.0001

(Title of Class of Securities)

09263B108

(CUSIP Number)

December 31, 2021

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

¨ Rule 13d-1(b)

x Rule 13d-1(c)

¨ Rule 13d-1(d)

*The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.

The information required in the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934, as amended (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

Provide the following information regarding the aggregate number and percentage of the class of securities of the Issuer identified in Item 1.

As of December 31, 2021, the Reporting Persons may be deemed to share beneficial ownership of an aggregate total of 9,951,809 shares of the Issuer’s Class A Common Stock. VCVC is the direct beneficial owner of all of the securities described in the preceding sentence. VCVC Management serves as the manager of VCVC. Cougar is the managing member of VCVC Management. Pursuant to its organizational documents, Cougar’s officers possess the authority to represent and conduct the business affairs of Cougar, including, without limitation, exercising voting and investment discretion. By reason of these relationships, VCVC, VCVC Management, and Cougar may be deemed to share voting and investment discretion over securities directly and beneficially owned by VCVC. Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein except to the extent of its pecuniary interest therein.

As of December 31, 2021, the Reporting Persons were deemed to directly or indirectly beneficially own 8.6%, in the aggregate, of the Issuer’s outstanding Class A Common Stock. This percentage was calculated in accordance with Rule 13(d)-3(d)(1)(i), promulgated under the Exchange Act, and based on an aggregate total of 116,116,470 shares of the Issuer’s Class A Common Stock outstanding as of November 12, 2021, as reported by the Issuer in its Quarterly Report for the period ended September 30, 2021, filed on Form 10-Q with the SEC on November 15, 2021.

If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than 5 percent of the class of securities, check the following o.

Item 6 is not applicable.

Item 7 is not applicable.

Item 8 is not applicable.

Item 9 is not applicable.

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.141-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.