Business

In the last month, more family offices have backed SPACs than ever

The SPAC boom is well documented. Less so are the numbers of family offices behind the setting up of them. But the numbers of family offices backing them are swelling as the activity in the sector illustrates well just in the last month. 

Here are the SPACs registered in December with the family offices backing them. 

In chronological order. 

FoxWayne Enterprises Acquisition Corp.

Registered on the 9th, Fox Wayne is backed among others by Sundeep Agrawal, managing director at Colt Ventures, a family office owned by Texan investor, Darren Blanton.

Corner Growth Acquisition Corp.

Registered on the 10th, Corner Growth is backed among others by John Mulkey, who invests through his family office, Mulkey Holdings. 

KINS Technology Group Inc.

Registered on the 10th, KINS is backed among others by Allen Salmasi, who is also chairman and CEO of NLabs, a New York City-based family office.  

Ivanhoe Capital Acquisition Corp. 

Registered on the 18th, Ivanhoe Capital Acquisition Corp., is backed by Robert Friedland, and his investment group, Ivanhoe Capital Corporation. 

Prospector Capital Corp.

Registered on the 18th, Prospector is backed among others by Mike Stone, a private equity investor, who also has a family office, FS Investors. 

Healthcare Capital Corp.

Registered on the 21st, Healthcare Capital is backed among others by Bruce E. Roberts, who runs his investments through Health Family Capital.  

Pioneer Merger Corp.

Registered on the 21st, Pioneer is backed among others by Oscar Salazar, a tech entrepreneur who invests through his family office – name unknown. Also on the board of the SPAC is Mitchell Caplan, who currently serves as president of Tarsadia Investments, an investment group owned by the US-based Patel family.

Global Partner Acquisition Corp II 

Registered on the 21st, Global Partner is backed among others by James  McCann, chairman and CEO of Food Retail Ventures, his investment group.  

Authentic Equity Acquisition Corp.

Registered on the 22nd, Authentic Equity is backed among others by Joe Baker, the founder of Ole Smoky Distillery, the biggest in terms of revenue craft distillery in the US. Baker runs his investments through his family office, the name of which isn’t known. 

Class Acceleration Corp.

Registered on the 30th, Class Acceleration is backed among others by two individuals linked to family offices – Joseph E. Parsons with a family office called 1913 Ventures, and Robert C. Daugherty with a family office called Hudson Pacific Group. The owners of the two family offices aren’t known.

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