Avance, Skadden, Castrén & Snellman, Paul Weiss and Hannes Snellman advised on ICEYE’s €1 billion Series F funding round.

The financing round comprised a primary investment of €450 million led by General Atlantic, alongside participation from Solidium, Tesi, Varma, Ilmarinen, Lifeline Ventures, Nokia, Qatar Investment Authority (QIA) and TCV. Together with secondary transactions exceeding €550 million, the total fundraising surpassed €1 billion, valuing the company at over EUR 10 billion.

The transaction represents one of the largest Nordic growth company financings to date and marks a significant milestone in the development of sovereign space-based intelligence infrastructure.

ICEYE is a provider of sovereign intelligence from space and operates the world’s largest Synthetic Aperture Radar (SAR) satellite constellation, delivering continuous monitoring capabilities for government and commercial customers globally.

Avance acted as lead legal advisor to ICEYE on the Series F financing.

Skadden also advised ICEYE.

The Skadden team included Denis Klimentchenko, Michael Leiter, Jason Hewitt and Tatiana Sullivan.

Castrén & Snellman advised General Atlantic, the lead investor in the financing round.

The Castrén & Snellman team included Karlo Siirala, Jussi Mäkikangas, Aleksi Kujanpää, Aleksi Uusitalo, Mikko Alakare, Vesa Rasinaho, Eija Warma-Lehtinen, Sofia Seppänen, Anu Aaltonen, Hanna Salokangas, Lotta Manu, Joel Aaltonen, Ida Illman, Joachim Wik, Touko Hakahuhta, Jutta Nieminen, Rami Laatsalo, Samuli Jestilä, Lauri Laatunen and Anna-Maarit Laurila.

Paul Weiss also advised General Atlantic on the transaction.

Hannes Snellman is advising Lifeline Ventures in its participation in the Series F financing round of ICEYE.

The Hannes Snellman team comprised Erik Stenman and Emmi Kantola.