Foley & Lardner LLP represented Samsung Venture Investment Corporation (SVIC) as an investor in the $170 million late-stage funding round for Loft Orbital, a space technology company with plans to expand its fleet of satellites. Additional investors included Temasek, Tikehau Capital, and Axial Partners.
Loft Orbital acquires satellite buses, integrates customer payloads, manages satellites in orbit, and offers virtual missions for clients to access satellite capabilities without owning or operating their own spacecraft. This year, they plan to deploy several satellite constellations for Earth observation firm EarthDaily and the U.S. Space Development Agency.
SVIC is the global investment arm of Samsung Group. Headquartered in Seoul, they have a strong presence in the world’s innovation hubs across the United States, Europe, Israel, India, China, and Japan. SVIC backs emerging technology startup founders, whom they believe will pioneer and shape the future.
The Foley team was led by partners Louis Lehot and Lyman Thai and included associate Wesley Choi.