MUFG, Kanematsu, and Tokio Marine & Nichido Fire Insurance led a $290m Series B round in Sierra Space.

Mitsubishi UFJ Financial, a bank, Kanematsu, a trading company, and Tokio Marine & Nichido Fire Insurance, a property and casualty insurance company, led a $290m Series B round in Sierra Space, a pureplay commercial space company, with participation from General Atlantic, Coatue, Moore Strategic Ventures, Sierra, BlackRock, AE Industrial Partners and Vice Family Trust. “MUFG aspires to help all our stakeholders take the next step forward, and we believe this should serve as the starting point for all business activities. Sierra Space’s aim to build a platform in space that will benefit life on Earth is the very embodiment of this concept, and MUFG has decided to invest in Low Earth Orbit to support commercialization, the creation of new industries, and the resolution of social issues. In the future, MUFG, alongside Kanematsu, Tokio Marine & Nichido Fire Insurance, and Sierra Space, will not only contribute to the regional economy of Oita Prefecture, but also create social impact in Japan and throughout Asia," Junichi Hanzawa, MUFG President and CEO.