Since last year, we have been tracking the growing list of capitalists entering the SPAC game. You can read an interview with Amish Jani, co-founder of FirstMark Capital, about his spec here. In addition, if you need a refresher to SPAC everything, we have it for you. This morning, I would like better understand the trend by parsing the capitalist SPAC of a few new ventures. We are Lair Hippo Acquisition Corporation and Khosla Ventures Acquisition Co. I will test me, II and III. The specs are somewhat explicitly associated with New York-based Lair Hippie and Khosla Ventures in Menlo Park. In addition, all four dropped the official S-1 filing last week.
Today’s topic may sound dry but it is important. As we have mentioned, Lux Capital is at stake with Repeat and of course Softbank. Adding our latest names to this mix and you will be surprised to think that in the future every face value has its own raft of offers for each vice chancellor.
Thus, as some late-stage venture capital funds previously invested – and now – full-service VC outfits will provide the first check of final liquidity, will a full-stack venture outfit be able to win more deals than any group offers? A limited set of financing options. If so, the recent venture capital SPAC waves could turn into another metaphorical oppression over time.
Regardless of how Khosla and Lair Hippo are analyzing public investors, how to turn pitch startups into pets, let’s quickly parse what people are saying about why they’re going to be great speakers before they get in our way.
Full-stack capital
Layer Hippo SPAC is the most interesting of the four proposals featuring the two companies, so we will start there. It has not to split the husk, but the layer hippo blank check has some clear words that I want to highlight. S-1 filing from Layer Hippo Acquisition Corporation, read the following (Brave: TechCrunch):
As our seed portfolio has matured over the past decade, we have added a growth strategy to our platform through our selected funds. This capital enables companies to continue providing their financial support when they scale up their top performance early stages and make new investments by picking at companies at a later stage of the Layer Hippie Network. Our portfolio has now reached a stage where many are considering the public market; we see space as a natural next step in the evolution of our platform.
After writing that there are four portfolio firms, he “publicly announced a business merger agreement with SPAC” and noted that it expects more, adding that he is considering expanding his “SPAC”. Markets as a complementary element of our strategy support organizations during their entrepreneurial travel time.
