Spacs jump-start in Asia after US boom sparks overseas interest

By Jonathan Breen
14 Jan 2021

Thiel Capital, the investment firm of billionaire venture capitalist Peter Thiel, this week launched its second southeast Asia special purpose acquisition company (Spac) in less than four months. The deal marks a coming trend in Asia-focused ‘blank cheque companies’, say bankers. Jonathan Breen reports.

Spacs are effectively shell companies listed with the purpose of acquiring or merging with a business, usually with a deadline between 12 and 24 months. If there is no acquisition in time, investors get their money back.

Bridgetown 2 Holdings, a collaboration between Thiel Capital and Hong Kong-based ...

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