Financing round led by Kodem Growth Partners
A team of Pillsbury lawyers represented Vector, a leading microsatellite launch company, in its $70 million Series B funding round led by Kodem Growth Partners, in conjunction with Morgan Stanley Alternative Investment Partners. Existing investors Sequoia Capital, Lightspeed Venture Partners and Shasta Ventures also participated in the round.
Vector is comprised of New Space and enterprise software industry veterans from SpaceX, Virgin Galactic, McDonnell Douglas, Boeing, Sea Launch and VMware.
"Vector is entering an extremely important phase of our journey, transitioning from a focus on research and development to flight operations and profitability. This Series B financing is a critical element in Vector's mission to improve access to space and become a dominant launch provider to the small satellite industry," said Jim Cantrell, CEO and co-founder of Vector.
Capitalizing on the booming small satellite launch market, the Series B round will help Vector achieve its ultimate goal of positioning the company for an eventual initial public offering, according to a company press release.
The Pillsbury team included Corporate partner Allison Leopold Tilley, and associates Erin Jennings and Charmaine Lindley in Silicon Valley.