This latest financing brings Sierra Space’s total capital raised to $1.7 billion, which is the largest ever capital raise by a commercial space company and brings Sierra Space’s valuation to $5.3 billion.
MUFG, Japan’s largest bank, trading company Kanematsu Corporation, and Tokio Marine & Nichido Fire Insurance, Japan’s largest property and casualty insurer, led the Series B round, which also included participation from Sierra Space’s existing investors, including General Atlantic, Coatue, Moore Strategic Ventures, and funds and accounts managed by BlackRock Private Equity Partners and others.
Cohen & Gresser served as counsel to our client Sierra Holding on all aspects of the transaction. “We are proud of the opportunity to assist Sierra Holding in this follow-on transaction to support the future of space travel,” said Jeffrey M. Bronheim, lead partner on the engagement for Cohen & Gresser.
Read Sierra Space Corporation’s press release here.