Deal Profile | Gadens advises Fleet Space Technologies on $150m capital raise

Gadens has advised Fleet Space Technologies Pty Ltd (Fleet), Australia’s leading space company, on its A$150m Series D fundraising round, which was led by Teachers’ Venture Growth (TVG), the late-stage venture and growth investment arm of Ontario Teachers’ Pension Plan, and joined by existing investors Blackbird Ventures, Hostplus, Horizons Ventures, Artesian Venture Partners, and Alumni Ventures. The investment will enhance Fleet’s global end-to-end exploration platform, ExoSphere, advancing the discovery of critical minerals essential for a sustainable clean energy future.

Gadens advised on all aspects of the Series D fundraising from diligence through to completion.

In the past year, Fleet has expanded the company’s global footprint to the US, Canada, Chile, and Luxembourg and now has over 130 employees worldwide. Their rapid global expansion will support the deployment of ExoSphere for over 40 industry leading exploration companies across five continents.

Flavia Tata Nardini, CEO and Co-founder of Fleet said:

“ExoSphere combines advances in space, AI, and big data to deliver an end-to-end platform that seamlessly integrates with modern mining operations. By streamlining exploration technology into a single workflow, it empowers the mining industry to make extraordinary discoveries with reduced environmental impact. The successful series D raise will allow us to further enhance the product globally. The Gadens team have played an important role in supporting Fleet’s growth over the years and we were delighted to work closely with them on another successful round”.

Also commenting on Fleet’s capital raise, partner Matt Watt said:

“Gadens is delighted to have once again advised Fleet on their largest successful capital raise to date. This latest fundraising round is a testament to their strong market position as one of Australia’s leading space companies, as well as their exciting international growth. Congratulations to the Fleet team and their investors.”

Value: Raising A$150m

Practice group: Corporate.

Key team members: Gadens corporate partner Matt Watt led on the raise, supported by Alistair Moore (Associate), Daniel Smith (Associate) and Maggie Laing (Lawyer).