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Summary List Placement

These days, more venture capital firms are either forming their own special purpose acquisition companies, or SPACs, or having internal conversations about doing so. A SPAC would let them launch a startup onto the public markets, even one from their own portfolios.

Peter Hébert, a founding partner at Lux Capital, whose SPAC started trading on the stock market last fall, said he’s had at least 60 phone calls with venture capitalists who are asking if they should jump on the trend.

Lightspeed Venture Partners is among the SPAC-curious, according to Barry Eggers, a founding partner.

“We’re investigating,” Eggers said earlier this month when asked if the firm was considering such a move. “I’d say we’re in the early stages of understanding the opportunity — how a vehicle fits in with our set of products.”

So far this month, Khosla Ventures and Lerer Hippeau dropped regulatory paperwork to create five SPACS between them. The filings follow a rash of venture firms making the same play, including SoftBank, FirstMark Capital, General Catalyst, G Squared, and, the first, Ribbit Capital, a fintech-focused firm with some big exits in the works.

All together, those seven venture firms have closed on or plan to raise $3.9 …read more

Source:: Businessinsider – Tech


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