A Look Inside VC Firms Joining The SPAC Rush

https://bit.ly/3sYrO9L points form the article: - A Look Inside VC Firms Joining The SPAC Rush - So far this year, more than 160 SPACs have raised over $48 billion in gross proceeds. In comparison, last year — also a record year for SPACs — 248 blank-check companies raised $83 billion - Lerer Hippeau, Khosla Ventures and Advancit Capital all formed SPACs - A VC firm will likely target its own portfolio companies to acquire, meaning they have a conflict of interest when it comes to allocating primary and secondary shares. - the firm helps take their company public and typically gets about 20 percent of the SPAC value because it served as the SPAC management team. - Khosla Ventures Acquisition Co. - Derek Anthony West (Tony West), chief legal officer of Uber and brother-in-law of Vice President Kamala Harris - Alex Kassan, former managing director at Anchorage Capital Group - Some of Advancit’s notable portfolio companies include Headspace and Public.com. - Martin Luther King III, human rights activist and son of Martin Luther King Jr. - Kevin Mayer, former Disney exec and the brief CEO of TikTok - Forest Road Acquisition Corp. - Shaquille O’Neal, former NBA player