Orrick Advises Lilium on Extension of Recent Financing with Baillie Gifford to $275 Million

June.12.2020

Deutsch: Orrick berät Lilium bei Erweiterung der jüngsten Finanzierungsrunde auf $275 Millionen mit Baillie Gifford

Orrick advised German aviation pioneer Lilium on a $35m investment by influential tech investor Baillie Gifford, bringing their recent internal $240m financing round to more than $275m, and total investment to date to more than $375m.

Lilium is a Munich-based aviation company developing an emissions-free regional air mobility service. It has designed and prototyped the Lilium Jet, a brand-new type of aircraft that will enable it to deliver regional journeys that are considerably faster than rail or road, yet competitive in price. It is a fully electric aircraft that can take-off and land vertically (eVTOL).

Baillie Gifford is a Scottish asset management firm with assets under management and advice of £198bn. It is known for their track record of investing in high-impact technology companies such as Amazon, Tesla, Airbnb, Spotify and SpaceX.

Lilium was advised by a cross border Orrick team led by Munich-based M&A and private equity partner Christoph Rödter who inter alia advised Lilium in the now extended financing round. The team further included partner Chris Grew (Technology Companies Group, London) and associate Viktor Kolberg (M&A and private equity, Munich).