Allen & Overy Advised Aljazira Capital in Axiom Space's $350M Funding Endeavour
Allen & Overy (A&O), the international law firm, has advised Aljazira Capital (AJC) as the lead investor in Axiom Space's latest funding round. This funding effort resulted in an impressive $350 million secured in Series C funding. Axiom Space, headquartered in Houston and dedicated to pioneering the world’s first commercial space station, led this significant investment round.
AJC, a prominent Saudi Arabian investment platform acclaimed for its financial acumen, took the lead in steering the Series C investment. Joining them was Boryung, a South Korean healthcare investment firm with a specialized focus on the burgeoning space healthcare sector.
As a result of this strategic transaction, Axiom Space has now emerged as the second-largest recipient of private space company funding in 2023. This ranking is based on publicly accessible data derived from pitchbook disclosed funding rounds, with SpaceX being the only company ahead in this regard.
Axiom Space is an American company that provides human spaceflight services and develops human-rated space infrastructure. The company operates end-to-end missions to the International Space Station (ISS) and is developing its successor, Axiom Station, which will be the world's first commercial space station in low-Earth orbit. Axiom Station's first module is under construction and is scheduled to launch to the ISS in 2026. Additional modules will follow to build out Axiom Station, which will be ready to separate from the ISS and operate independently in support of customers around the world by 2031 when NASA plans to retire the ISS.
This recent venture builds upon AJC's prior engagement in Floward's Series C Pre-IPO investment round, which garnered $156 million. In this previous endeavor, A&O also provided legal counsel.
Corporate Partner Ben Ward, heading the multinational team at A&O, expressed his satisfaction in guiding AJC as the anchor investor through this substantial transaction, in harmony with Saudi Arabia's Vision 2030 transformative economic initiative.
“Axiom Space are adopting new technology towards the advancement of human life to support the global space economy, a sector which will continue to be a crucial element to supporting global and regional economic expansion,” Ward stated.