Khosla Ventures launches fourth SPAC, to raise $200 mln via U.S. IPO

  • 2/23/2021
  • 00:00
  • 13
  • 0
  • 0
news-picture

Feb 23 (Reuters) - A blank-check firm, backed by prominent venture capitalist Vinod Khosla’s eponymous investment fund, is looking to raise $200 million through an initial public offering, a regulatory filing showed on Tuesday. Khosla Ventures Acquisition Co IV, a special purpose acquisition company (SPAC), plans to raise the funds by listing on the Nasdaq Capital Market. The SPAC is sponsored by an affiliate of Khosla Ventures, a venture capital firm founded in 2004 by Sun Microsystems co-founder Khosla. Khosla Ventures has invested in numerous high-profile companies such as DoorDash Inc, Opendoor Technologies Inc and Affirm Holdings Inc, all of which went public last year. Earlier this month, Khosla Ventures launched three other blank-check firms that are aiming to raise as much as $1.2 billion collectively. The launch of Khosla’s fourth SPAC comes at a time when numerous big-name investors, including Bill Ackman, Reid Hoffman and Chamath Palihapitiya, are betting big on the current SPAC frenzy. SPACs are shell companies that raise money through an IPO to take a private company public. They serve as an alternative for companies looking to enter public markets as SPACs allow them to sidestep a traditional IPO and the hassles attached to it. Goldman Sachs and Piper Sandler are the lead underwriters for Khosla’s latest offering. (Reporting by Sohini Podder in Bengaluru; Editing by Aditya Soni)

مشاركة :