An Exclusive Interview with: Xavier de Taisne Partner, Magellan Finance investor confidence. By emphasising Vela’s potential to revolutionise freight transport and contribute to reducing carbon emissions, we were able to attract a diverse group of investors, ranging from institutional to private entities committed to supporting sustainable innovations. How did Magellan Finance help Vela align its financial goals with the strategic objectives of the investors, and how was this secured to support their future goals? We ensured the alignment of Vela’s financial goals with investor interests by structuring a security package that balanced the early-stage nature of Vela with the need for investor protection. This included strategic project guarantees from Bpifrance, covering 75% of the senior financing, along with a mortgage on the vessel and specific financial covenants. These measures created a protective framework that reassured investors while supporting Vela’s strategic ambitions, enabling them to confidently move forward with their plans to revolutionise maritime transport. What role, if any, will Magellan Finance play in providing ongoing financial support to Vela following this fundraising round, particularly as they embark on the construction of their first cargo trimaran? In this fundraising round, financing was secured for the construction of Vela’s first cargo vessel. Looking ahead, Vela plans to fund four additional vessels by 2026. Subject to Vela’s agreement, Magellan Finance aims to continue its involvement by facilitating both senior and junior financing through an assetco model, ensuring ongoing support as the company scales its operations. This long-term financial backing will be crucial in realising Vela’s vision of sustainable maritime transport. Xavier, can you tell us what Magellan Finance’s specific role was in structuring and facilitating the fundraising for Vela, and how did you collaborate with other stakeholders throughout the process? Magellan Finance played a crucial role in structuring the debt component of the financing through an innovative financial arrangement. Coordination was essential between Vela and Avolta, which managed the equity fundraising, to ensure smooth progress and adherence to the projected timeline. Our objective was to maintain alignment and respect the interests of all parties involved throughout the process. This required close collaboration to ensure the successful integration of various financial and strategic elements, ultimately leading to a streamlined and efficient fundraising process. Could you share any insight into how the valuation of Vela was determined, and what key factors were emphasised to attract such a wide range of investors? The valuation of Vela was built around several critical factors, including its pioneering position in sustainable maritime transport, the innovative design of its 100% sailing-powered cargo vessels, and the strategic importance of its environmentally friendly approach. Additionally, the company’s founding team, including experienced professionals and renowned navigator François Gabart, played a key role in building TRANSACTION INTERVIEW 85
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