General Atlantic Co-Leads $1.4 Billion Funding Round in Sierra Space

Paul, Weiss advised General Atlantic in its Series A investment in Sierra Space, a leading commercial space company with 1,100 employees, more than 500 missions and over 30 years of space flight heritage. 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.

The Paul, Weiss team included, among others, corporate partners Matthew Abbott, Cullen Sinclair and Christopher Cummings; intellectual property partner Claudine Meredith-Goujon; litigation partner Catherine Nyarady 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.