PARIS – Reed Smith corporate and tax teams advised Move Capital Fund I on its investment in Finnish space company ICEYE Oy’s $93 million growth round.

This $93-million round is shared with Finnish sovereign fund Solidium Oy as well as Blackwells Capital, Christo Georgiev and existing investors.

With over $100 million in revenue in 2023, ICEYE is the global leader in synthetic aperture radar, satellite operations for Earth observation, persistent monitoring and natural catastrophe solutions.

Based in Paris, Move Capital Fund I is a pan-European growth equity fund focused on highly strategic sectors. This fourth investment highlights their commitment to nurturing Europe's future tech leaders and reinforces their dedication to ESG. Additionally, this investment strengthens Move Capital’s strategic involvement in the European New Space sector, which began with their collaboration agreement with the European Space Agency.

The Reed Smith team assisting Move Capital Fund I comprised Guilain Hippolyte, partner, and Marco Hazan on the corporate aspects, Benoit Bernard, partner, and Antoine Maniglier for the tax aspects in Paris, and Chicago-based partner Arnold Grant for international tax aspects.