Japan's MUFG Bank, two others lead US$290 million Sierra Space fundraising

Sep 27 (CNA) - MUFG Bank is among three Japanese firms leading a US$290-million fundraising round for US spaceship company Sierra Space, spearheading a commercial "spaceport" project in the southwestern region of Oita, the Nikkei daily said on Tuesday (Sep 26).

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Despite recent setbacks for national space missions, Japanese companies aiming to foray into space are increasingly deepening ties with private companies, from American giants such as SpaceX to home-grown startups.

MUFG Bank, insurer Tokio Marine & Nichido Fire and trading house Kanematsu together invested several tens of billions of yen in Sierra, gaining a stake in the unlisted company that was now probably valued in excess of $5 billion, the paper said.

Sierra Space, spun off in 2021 from billionaire-owned Sierra Nevada Corp, is among a handful of space industry players attempting to build a private space station that NASA hopes will replace the two decade-old International Space Station by 2030.

Sierra signed a partnership in December with Kanematsu, Japan Airlines and the Oita prefectural government to turn a regional airport into Asia's first "horizontal spaceport". ...continue reading

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