Orbital Reef

Orbital Reef

Sierra Space, a commercial space company based in Louisville, Colo., raised $1.4 billion from investors during the first round of a capital raise campaign, according to a news release.

The company, now valued at $4.5 billion, is building a reusable orbital spaceplane called the Dream Chaser.

The Series A investment of primary capital was "the first capital raise for the company and the second-largest private capital raise globally in the aerospace and defense sector ever," according to a release. 

Leading the campaign was funds and accounts managed by BlackRock Private Equity Partners and AE Industrial Partners, the release states.

It is also partnering with the space exploration company Blue Origin, founded by Amazon CEO Jeff Bezos, to develop a commercial space station.

"We are building the next generation of space transportation systems and in-space infrastructures and destinations that will enable humanity to build and sustain thriving civilizations beyond Earth," Tom Vice, Sierra Space's chief executive, said in a statement.

Sierra Nevada Corp. broke off its space program now known as Sierra Space in April. Sierra Space has 1,100 employees, according to the release. 

"We have worked hard for years to nurture the Sierra Space business from its genesis in 2008 to today, where it has significantly grown to hold a very unique and strategic position in the rapidly expanding commercial space sector," said Fatih Ozmen, chariman of the Sierra Space Board of Directors and CEO of Sierra Nevada Corp. in a release. "Sierra Space now has the right scale, and with its leading-edge technologies and turnkey capabilities is poised to significantly accelerate growth with this investment."