<?xml version="1.0" encoding="UTF-8"?><edgarSubmission xmlns="http://www.sec.gov/edgar/schedule13g" xmlns:com="http://www.sec.gov/edgar/common">
	<headerData>
		<submissionType>SCHEDULE 13G/A</submissionType>
		<previousAccessionNumber/>
		<filerInfo>
			<filer>
				<filerCredentials>
					<cik>0001304857</cik>
					<ccc>XXXXXXXX</ccc>
				</filerCredentials>
			</filer>
			<liveTestFlag>LIVE</liveTestFlag>


		</filerInfo>
	</headerData>
	<formData>
		<coverPageHeader>
			<amendmentNo>3</amendmentNo>
			<securitiesClassTitle>Class A ordinary shares, par value $0.0001 per share</securitiesClassTitle>
			<eventDateRequiresFilingThisStatement>03/31/2025</eventDateRequiresFilingThisStatement>
			<issuerInfo>
				<issuerCik>0002015502</issuerCik>
				<issuerName>Launch One Acquisition Corp.</issuerName>
				<issuerCusip>G5S86M100</issuerCusip>
				<issuerPrincipalExecutiveOfficeAddress>
					<com:street1>180 Grand Avenue, Suite 1530</com:street1>
					<com:city>Oakland</com:city>
					<com:stateOrCountry>CA</com:stateOrCountry>
					<com:zipCode>94612</com:zipCode>
				</issuerPrincipalExecutiveOfficeAddress>
			</issuerInfo>
			<designateRulesPursuantThisScheduleFiled>
				<designateRulePursuantThisScheduleFiled>Rule 13d-1(c)</designateRulePursuantThisScheduleFiled>
			</designateRulesPursuantThisScheduleFiled>
		</coverPageHeader>
		<coverPageHeaderReportingPersonDetails>


			<reportingPersonName>MMCAP International Inc. SPC</reportingPersonName>
			<memberGroup>a</memberGroup>
			<citizenshipOrOrganization>E9</citizenshipOrOrganization>
			<reportingPersonBeneficiallyOwnedNumberOfShares>
				<soleVotingPower>0</soleVotingPower>
				<sharedVotingPower>1480000</sharedVotingPower>
				<soleDispositivePower>0</soleDispositivePower>
				<sharedDispositivePower>1480000</sharedDispositivePower>
			</reportingPersonBeneficiallyOwnedNumberOfShares>
			<reportingPersonBeneficiallyOwnedAggregateNumberOfShares>1480000</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
			<classPercent>6.43</classPercent>
			<typeOfReportingPerson>CO</typeOfReportingPerson>
			<comments>*Consist of 1,480,000 Class A ordinary shares of the Issuer.
** The percentages used herein are calculated based on 23,000,000 shares outstanding of the Issuer, as reported in the Form 10-K filed with the Securities and Exchange Commission on March 26, 2025.</comments>
		</coverPageHeaderReportingPersonDetails>
		<coverPageHeaderReportingPersonDetails>

			<reportingPersonName>MM Asset Management Inc.</reportingPersonName>
			<memberGroup>a</memberGroup>
			<citizenshipOrOrganization>A6</citizenshipOrOrganization>
			<reportingPersonBeneficiallyOwnedNumberOfShares>
				<soleVotingPower>0</soleVotingPower>
				<sharedVotingPower>1480000</sharedVotingPower>
				<soleDispositivePower>0</soleDispositivePower>
				<sharedDispositivePower>1480000</sharedDispositivePower>
			</reportingPersonBeneficiallyOwnedNumberOfShares>
			<reportingPersonBeneficiallyOwnedAggregateNumberOfShares>1480000</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
			<classPercent>6.43</classPercent>
			<typeOfReportingPerson>CO</typeOfReportingPerson>
			<comments>*Consist of 1,480,000 Class A ordinary shares of the Issuer.
** The percentages used herein are calculated based on 23,000,000 shares outstanding of the Issuer, as reported in the Form 10-K filed with the Securities and Exchange Commission on March 26, 2025.</comments>
		</coverPageHeaderReportingPersonDetails>
		<items>
			<item1>
				<issuerName>Launch One Acquisition Corp.</issuerName>
				<issuerPrincipalExecutiveOfficeAddress>180 Grand Avenue, Suite 1530, Oakland, CALIFORNIA 94612</issuerPrincipalExecutiveOfficeAddress>
			</item1>
			<item2>
				<filingPersonName>MMCAP International Inc. SPC

MM Asset Management Inc.</filingPersonName>
				<principalBusinessOfficeOrResidenceAddress>c/o Mourant Governance Services (Cayman) Limited
     94 Solaris Avenue
     Camana Bay, P.O. Box 1348
     Grand Cayman, KY1-1108, Cayman Islands

161 Bay Street,
TD Canada Trust Tower, Suite 2240,
Toronto, ON M5J 2S1 Canada</principalBusinessOfficeOrResidenceAddress>
				<citizenship>Cayman Islands

Ontario, Canada</citizenship>
			</item2>
			<item3>
				<notApplicableFlag>Y</notApplicableFlag>
			</item3>
			<item4>
				<amountBeneficiallyOwned>1,480,000</amountBeneficiallyOwned>
				<classPercent>6.43</classPercent>
				<numberOfSharesPersonHas>
					<solePowerOrDirectToVote>0</solePowerOrDirectToVote>
					<sharedPowerOrDirectToVote>1,480,000</sharedPowerOrDirectToVote>
					<solePowerOrDirectToDispose>0</solePowerOrDirectToDispose>
					<sharedPowerOrDirectToDispose>1,480,000</sharedPowerOrDirectToDispose>
				</numberOfSharesPersonHas>
			</item4>
			<item5>
				<notApplicableFlag>Y</notApplicableFlag>
			</item5>
			<item6>
				<notApplicableFlag>Y</notApplicableFlag>
			</item6>
			<item7>
				<notApplicableFlag>Y</notApplicableFlag>
			</item7>
			<item8>
				<notApplicableFlag>Y</notApplicableFlag>
			</item8>
			<item9>
				<notApplicableFlag>Y</notApplicableFlag>
			</item9>
			<item10>
				<notApplicableFlag>N</notApplicableFlag>
				<certifications>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 ?? 240.14a-11.
</certifications>
			</item10>
		</items>
		<signatureInformation>
			<reportingPersonName>MMCAP International Inc. SPC</reportingPersonName>
			<signatureDetails>
				<signature>/s/ Ulla Vestergaard</signature>
				<title>Director</title>
				<date>05/13/2025</date>
			</signatureDetails>
		</signatureInformation>
		<signatureInformation>
			<reportingPersonName>MM Asset Management Inc.</reportingPersonName>
			<signatureDetails>
				<signature>/s/ Hillel Meltz</signature>
				<title>President</title>
				<date>05/13/2025</date>
			</signatureDetails>
		</signatureInformation>
	</formData>
</edgarSubmission>
