White & Case advises Noteus and Balderton on US$1.2 billion Series D financing of Quantum Systems

Global law firm White & Case LLP has advised Noteus and Balderton on their participation as investors in the US$1.2 billion Series D financing of Quantum Systems, a leading European deep-tech defence company that develops, produces and deploys interoperable unmanned systems combining battle-proven and modular hardware, software and AI to deliver mission-critical capabilities across air, land, sea and adjacent domains.

White & Case partner Andreas Lischka, who led the Firm’s deal team advising Noteus and conducted the due diligence for all parties, said: “This transaction reflects White & Case’s deep engagement in the defence technology sector and our experience advising investors at different levels on complex, high-value growth financings in strategic industries.”

Noteus, a European growth equity specialist backing fast-growing, category-defining technology companies, acted as co-lead investor in the financing, while Balderton, a leading venture capital investor, participated as an existing shareholder.

White & Case advised both investors on the financing, which supports Quantum Systems’ next phase of growth as it scales its multi-domain autonomous platform, expands production across allied markets and continues to invest in software and AI capabilities. 

The financing round, which values Quantum Systems at approximately US$8 billion post-money, was co-led by Blackstone, Noteus, Airbus and Advent and supported by a syndicate of crossover and long-term institutional investors including BOND, Fidelity Management & Research Company, Wellington Management, A.P. Moller Holding and Elephant Lake Ventures, together with existing shareholders such as Balderton and HV Capital.

The White & Case team which advised Noteus on the transaction was led by partner Andreas Lischka and included partners Gernot Wagner, Rebecca Emory, Sebastian Stütze, Mathias Bogusch (all Frankfurt), Erasmus Hoffmann (Berlin), Orion Berg (Paris), Laura Black (Washington, DC), Savi Hebbur (London), Thilo Wienke (Düsseldorf) and Gero von Jhering (Hamburg), local partner Tobias Zündorf (Hamburg), counsel Katrin Helle (Berlin) and associates Maximilian Eichhorn, Enno Miedtank (both Hamburg), Hüseyin Sarigül, Justus Redeker (both Frankfurt), Martin Junker, Franziska Weires, Marvin Göbberd (all Berlin), Clémence Flichy (Paris) and Wes Hutson (Washington, DC).

The White & Case team which advised Balderton on the transaction was led by partner Norman Röchert (Berlin) and included counsel Tommaso Tosi (Milan) and associates Jasmin Bechtold, Anna Hankings-Evans (all Berlin) and Francesco Balestra (Milan).

Press contact
For more information please speak to your local media contact.