Sierra Space’s $1.4 Billion Funding Round

Paul, Weiss, Rifkind, Wharton & Garrison advised General Atlantic in the transaction.

Sierra Space closed its Series A investment. The $1.4 billion funding round was led by General Atlantic, Coatue and Moore Strategic Ventures, with participation from funds and accounts managed by BlackRock Private Equity Partners, AE Industrial Partners and various strategic family offices.

The round represents the first capital raise for the company and the second-largest private capital raise globally in the aerospace and defense sector. The raised growth capital will help accelerate the development of several projects that further Sierra Space’s goals, including building commercial space destinations and infrastructure, and enabling technologies that will help build a vibrant, growing commercial space economy.

Sierra Space is a leading commercial space company with 1,100 employees, more than 500 missions and over 30 years of space flight heritage.

Established in 1980, General Atlantic is a leading global growth equity firm providing capital and strategic support for growth companies.

The Paul, Weiss team included corporate partners Matthew Abbott (Picture), Cullen Sinclair, Christopher Cummings and Monica Thurmond; intellectual property partner Claudine Meredith-Goujon; litigation partners Catherine Nyarady and Alexia Korberg and counsel Kripa Raman, Peter Jaffe and Steven Herzog; executive compensation partner Jarrett Hoffman and counsel Lisa Krausz Eisenberg and Cynthia Akard; tax partner Lindsay Parks; environmental counsel William O’Brien; and antitrust counsel Marta Kelly.

Involved fees earner: Matthew Abbott – Paul Weiss Rifkind Wharton & Garrison; Cynthia Akard – Paul Weiss Rifkind Wharton & Garrison; Christopher Cummings – Paul Weiss Rifkind Wharton & Garrison; Steven Herzog – Paul Weiss Rifkind Wharton & Garrison; Jarrett Hoffman – Paul Weiss Rifkind Wharton & Garrison; Peter Jaffe – Paul Weiss Rifkind Wharton & Garrison; Marta Kelly – Paul Weiss Rifkind Wharton & Garrison; Alexia Korberg – Paul Weiss Rifkind Wharton & Garrison; Lisa Krausz Eisenberg – Paul Weiss Rifkind Wharton & Garrison; Claudine Meredith-Goujon – Paul Weiss Rifkind Wharton & Garrison; Catherine Nyarady – Paul Weiss Rifkind Wharton & Garrison; William O’Brien – Paul Weiss Rifkind Wharton & Garrison; Lindsay Parks – Paul Weiss Rifkind Wharton & Garrison; Kripa Raman – Paul Weiss Rifkind Wharton & Garrison; Cullen Sinclair – Paul Weiss Rifkind Wharton & Garrison; Monica Thurmond – Paul Weiss Rifkind Wharton & Garrison;

Law Firms: Paul Weiss Rifkind Wharton & Garrison;

Clients: General Atlantic;