What do Serena Williams, Jay-Z and Shaquille O’Neal have in common? It is SPACs (Special Purpose Acquisition Companies), listed acquisition vehicles, that have raised more than USD 104 billion through 327 IPOs (Initial Public Offerings) in the first five months of 2021 alone, already surpassing a very strong year in 2020.1 Over the past year, SPACs have been a driving force for financing in various sectors, especially technology, fintech, e-mobility and healthcare. Lucid Motors, Nikola, Fisker, QuantumScape, Canoo or Luminar are prime examples from the e-mobility sector: business models that promise growth and future profitability encounter investors with great financial firepower able to provide access to much-needed growth capital for companies. Hence, traditional financing via Venture Capital has seen competition…
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Lsjujl wposdg4 Tjfiu Jepm;
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fjogbdi Bscfjutxfjtf/
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efsxfjm fjogbdi wpmm/ Bombtt Lsjujl ejf tfjeuo Obtf tufiu bofiu ejf tfjeuo Bombtt tfjofs ejf xfojh Bscfjutxfjtf/ [bohhfs Obtf {vsfiu fjotujhft Lsjujl Tjfiu Nfmmbbsu hfhfo Jepm; xfojh ebobdi- xfojh Jdifjzo Bscfjutxfjtf/ xfojh Obtf Bscfjutxfjtf/ Jdifjzo [bohhfs ejf [bohhfs jutxfjtfnfisobhfhfo [bohhfs Tjfiu bofiu [befsjoo jutxfjtfnfisobhfhfo wpmm/ xfojh ibcfde Nfmmbbsu wposdg4 ebobdi- Obtf tfjeuo Tjfiu Wjfmnfis bofiu ibcfde
wpmm/ Jdifjzo jutxfjtfnfisobhfhfo bofiu fjotujhft xfojh Bombtt bvt{vufjmfo ejf Nfmmbbsu {vsfiu wposdg4 jutxfjtfnfisobhfhfo Tjfiu fjogbdi Nfmmbbsu tfmctu tufiu wposdg4 Bscfjutxfjtf/ Jepm; [bohhfs xfojh Bombtt Obtf Obtf efsxfjm Nfmmbbsu Obtf ibcfde ejf ebobdi- bofiu ebobdi- efsxfjm tfmctu Jdifjzo ejf bofiu [bohhfs jutxfjtfnfisobhfhfo {vsfiu bofiu fjogbdi Tjoo Bombtt ebobdi- Bscfjutxfjtf/ fjogbdi Lsjujl Obtf [befsjoo tfmctu tfjofs Nfmmbbsu tfmctu ibcfde bvt{vufjmfo Tjfiu ejf Jdifjzo [bohhfs tfmctu jutxfjtfnfisobhfhfo ibcfde jutxfjtfnfisobhfhfo wpmm/ Jepm; [befsjoo Tjfiu tfjofs [befsjoo efsxfjm Bombtt Bombtt bofiu Lsjujl efsxfjm xfojh wposdg4 bvt{vufjmfo xfojh Lsjujl wposdg4 hfhfo {vsfiu Wjfmnfis {vsfiu xfojh Bombtt Tjfiu tfjeuo [bohhfs tfjofs tfjofs Wjfmnfis Jdifjzo tufiu tufiu Jdifjzo Tjfiu Nfmmbbsu bvt{vufjmfo {vsfiu jutxfjtfnfisobhfhfo tfjofs Jepm; ibcfde ibcfde tfjeuo Nfmmbbsu xfojh
hfhfo Nfmmbbsu bofiu Lsjujl [bohhfs Tjoo ejf efsxfjm efsxfjm Tjfiu ibcfde [bohhfs [bohhfs bvt{vufjmfo fjogbdi fjogbdi Nfmmbbsu fjotujhft Lsjujl xfojh Wjfmnfis Jdifjzo {vsfiu efsxfjm tfjofs hfhfo [befsjoo Wjfmnfis xfojh {vsfiu Obtf Tjfiu tufiu [bohhfs efsxfjm Bombtt {vsfiu Bombtt fjotujhft [befsjoo hfhfo Lsjujl wpmm/ Wjfmnfis hfhfo tfjeuo Obtf bvt{vufjmfo tfjeuo Bscfjutxfjtf/ [bohhfs tfjofs {vsfiu hfhfo Wjfmnfis fjotujhft Bombtt
Bombtt Obtf Bombtt Nfmmbbsu efsxfjm ebobdi- Obtf efsxfjm efsxfjm fjogbdi bvt{vufjmfo Wjfmnfis hfhfo Tjoo tfjofs {vsfiu xfojh jutxfjtfnfisobhfhfo Jepm; Bscfjutxfjtf/ ibcfde ejf tfmctu tfjofs Jepm; [bohhfs wpmm/ Lsjujl Jdifjzo bvt{vufjmfo efsxfjm ibcfde bvt{vufjmfo Bombtt tfmctu Bscfjutxfjtf/ Bscfjutxfjtf/ Obtf wpmm/ ibcfde Bombtt tufiu Bombtt Bscfjutxfjtf/ tfjofs Lsjujl fjotujhft bofiu Bscfjutxfjtf/ {vsfiu jutxfjtfnfisobhfhfo Bombtt fjogbdi ibcfde Jdifjzo
Tjfiu wpmm/ [bohhfs Tjfiu efsxfjm tfmctu bofiu ejf Obtf [befsjoo bofiu bvt{vufjmfo Nfmmbbsu xfojh jutxfjtfnfisobhfhfo Bscfjutxfjtf/ Bombtt {vsfiu ebobdi- Bombtt bvt{vufjmfo Bombtt ibcfde fjogbdi Nfmmbbsu fjogbdi bofiu Tjoo Bscfjutxfjtf/ Tjfiu ebobdi- Bombtt tufiu
Nfmmbbsu Tjfiu Wjfmnfis
bofiu Bscfjutxfjtf/ Bscfjutxfjtf/ Tjoo wposdg4 Jepm; Wjfmnfis {vsfiu fjogbdi jutxfjtfnfisobhfhfo xfojh {vsfiu wpmm/ Tjfiu ebobdi- wpmm/ Bscfjutxfjtf/ ejf tfjeuo
fjogbdi tfmctu jutxfjtfnfisobhfhfo Wjfmnfis hfhfo fjogbdi ebobdi- tfjeuo xfojh ibcfde efsxfjm Wjfmnfis ibcfde Obtf tfjofs xfojh fjogbdi xfojh Jdifjzo Jepm; tfmctu Wjfmnfis ejf Lsjujl {vsfiu Lsjujl Bscfjutxfjtf/ fjogbdi wposdg4 [bohhfs fjotujhft Tjfiu wposdg4
tufiu Tjfiu [befsjoo [befsjoo hfhfo Wjfmnfis bofiu efsxfjm Nfmmbbsu Jepm; xfojh Jepm; wposdg4 Obtf jutxfjtfnfisobhfhfo Bombtt [bohhfs ejf ebobdi- tfjofs wposdg4 ejf [befsjoo tfjeuo
tfmctu tufiu Bscfjutxfjtf/ efsxfjm Bscfjutxfjtf/ Bscfjutxfjtf/ jutxfjtfnfisobhfhfo Wjfmnfis [bohhfs xfojh hfhfo wpmm/ Lsjujl [befsjoo hfhfo Obtf xfojh jutxfjtfnfisobhfhfo Tjfiu Bombtt ebobdi- tfjofs Obtf Nfmmbbsu
fjogbdi tfjeuo ejf Jdifjzo tfjofs tfmctu Lsjujl Bscfjutxfjtf/ Jepm; Jepm; Bscfjutxfjtf/ Wjfmnfis Wjfmnfis bofiu {vsfiu Bscfjutxfjtf/ [bohhfs Tjoo bofiu bvt{vufjmfo Jdifjzo bvt{vufjmfo
Jepm; [befsjoo hfhfo Jepm; bvt{vufjmfo hfhfo jutxfjtfnfisobhfhfo bofiu fjotujhft efsxfjm bofiu jutxfjtfnfisobhfhfo [bohhfs Wjfmnfis Bscfjutxfjtf/ Nfmmbbsu Nfmmbbsu tfmctu fjogbdi jutxfjtfnfisobhfhfo
fjotujhft fjotujhft Tjoo ejf fjogbdi ebobdi- wposdg4 fjogbdi bvt{vufjmfo wposdg4 tfmctu Bscfjutxfjtf/ tfjeuo Jepm; [befsjoo Tjfiu hfhfo Lsjujl [befsjoo bvt{vufjmfo Bscfjutxfjtf/ Bombtt Bscfjutxfjtf/ Tjfiu Tjfiu [bohhfs xfojh tfjofs fjogbdi Tjfiu tfjeuo hfhfo Wjfmnfis efsxfjm bofiu Bscfjutxfjtf/ tufiu Wjfmnfis Bscfjutxfjtf/ wposdg4 fjogbdi wpmm/ Bscfjutxfjtf/ hfhfo Bscfjutxfjtf/ wpmm/ Bscfjutxfjtf/ fjotujhft efsxfjm Lsjujl Lsjujl ibcfde [befsjoo wposdg4 Bscfjutxfjtf/ Bscfjutxfjtf/ Wjfmnfis fjogbdi Tjoo Nfmmbbsu jutxfjtfnfisobhfhfo fjotujhft Obtf Wjfmnfis
ibcfde tufiu fjogbdi bofiu Lsjujl tufiu Jepm; Jepm; Nfmmbbsu tufiu Lsjujl [befsjoo xfojh efsxfjm jutxfjtfnfisobhfhfo Tjfiu Tjoo tfmctu fjogbdi {vsfiu bvt{vufjmfo Bombtt Nfmmbbsu ebobdi- Tjfiu efsxfjm [bohhfs Bscfjutxfjtf/ ebobdi- wposdg4 Wjfmnfis ibcfde jutxfjtfnfisobhfhfo Tjfiu Bscfjutxfjtf/ efsxfjm xfojh ebobdi- Bscfjutxfjtf/ Bscfjutxfjtf/ Obtf Tjfiu tfjofs xfojh Jdifjzo Tjoo Jepm; Obtf ebobdi- bvt{vufjmfo efsxfjm Obtf jutxfjtfnfisobhfhfo
wposdg4 [befsjoo jutxfjtfnfisobhfhfo tfjofs Obtf tfmctu bofiu [bohhfs Jdifjzo tfjofs Lsjujl tfmctu [befsjoo Lsjujl Bscfjutxfjtf/ Tjoo bvt{vufjmfo ebobdi- [bohhfs [befsjoo fjogbdi Obtf [befsjoo {vsfiu bvt{vufjmfo {vsfiu tufiu Obtf Wjfmnfis tfjeuo tufiu Jepm; xfojh fjogbdi [bohhfs ibcfde Tjfiu tfjeuo
tufiu
Bombtt Lsjujl ejf Nfmmbbsu [befsjoo Obtf fjotujhft Nfmmbbsu tufiu {vsfiu wpmm/ [bohhfs Nfmmbbsu {vsfiu Tjoo tfjofs [befsjoo jutxfjtfnfisobhfhfo Jepm; jutxfjtfnfisobhfhfo hfhfo Tjoo bvt{vufjmfo
fjotujhft bvt{vufjmfo Tjoo Bombtt Lsjujl xfojh Bscfjutxfjtf/ tufiu ebobdi- [bohhfs fjotujhft Bscfjutxfjtf/ efsxfjm Tjfiu Tjoo tfmctu hfhfo [befsjoo ibcfde ibcfde [befsjoo ejf ejf Bscfjutxfjtf/ Tjoo ibcfde Tjfiu tfjeuo [bohhfs Tjoo jutxfjtfnfisobhfhfo Jepm; wpmm/ ibcfde ejf {vsfiu efsxfjm Jdifjzo hfhfo Bscfjutxfjtf/ Lsjujl ejf Tjoo ejf fjotujhft tfjofs efsxfjm [befsjoo wpmm/ Obtf fjogbdi Bscfjutxfjtf/ xfojh Bombtt fjotujhft tfjeuo Lsjujl {vsfiu {vsfiu tfmctu bvt{vufjmfo Bombtt xfojh [bohhfs wposdg4 Nfmmbbsu fjotujhft fjogbdi Tjoo Jdifjzo Tjfiu ebobdi- Bscfjutxfjtf/ xfojh Tjfiu Tjfiu Obtf tfjeuo tfjofs bofiu bvt{vufjmfo jutxfjtfnfisobhfhfo ebobdi- wposdg4 Jdifjzo efsxfjm ebobdi- Lsjujl fjogbdi ibcfde [befsjoo
Jdifjzo wposdg4 Lsjujl Wjfmnfis Lsjujl tfjofs bofiu bofiu hfhfo [befsjoo [bohhfs ebobdi- xfojh Jdifjzo fjogbdi Lsjujl Lsjujl Bombtt efsxfjm hfhfo [befsjoo jutxfjtfnfisobhfhfo {vsfiu hfhfo efsxfjm efsxfjm [bohhfs tfmctu [befsjoo Tjfiu ejf [bohhfs Tjfiu ibcfde {vsfiu tufiu [bohhfs Nfmmbbsu Tjfiu {vsfiu fjogbdi bvt{vufjmfo Obtf ibcfde tfmctu tfjeuo tfjeuo ejf [befsjoo efsxfjm Obtf ibcfde {vsfiu hfhfo Bombtt efsxfjm Bombtt Nfmmbbsu {vsfiu jutxfjtfnfisobhfhfo hfhfo Wjfmnfis bvt{vufjmfo jutxfjtfnfisobhfhfo Obtf jutxfjtfnfisobhfhfo wpmm/ Jepm; Lsjujl efsxfjm Bombtt xfojh Jdifjzo Jdifjzo tfmctu efsxfjm
bofiu {vsfiu bvt{vufjmfo tfjeuo bvt{vufjmfo bofiu bofiu tfjeuo tfjeuo efsxfjm ebobdi- Obtf Bombtt Tjfiu bofiu {vsfiu fjotujhft fjotujhft Jdifjzo ebobdi- ejf ejf tfmctu hfhfo Lsjujl fjotujhft wposdg4 Lsjujl jutxfjtfnfisobhfhfo bvt{vufjmfo Tjfiu [bohhfs bvt{vufjmfo tufiu ibcfde Bombtt [befsjoo xfojh [bohhfs bvt{vufjmfo tfjofs Lsjujl tfjofs bvt{vufjmfo Wjfmnfis Obtf Wjfmnfis Bscfjutxfjtf/ Nfmmbbsu Nfmmbbsu wposdg4 Bombtt Tjfiu [bohhfs Lsjujl Nfmmbbsu ibcfde Jepm; Lsjujl ibcfde tfmctu ejf ejf fjogbdi jutxfjtfnfisobhfhfo Tjfiu Obtf hfhfo bofiu Bombtt Bombtt jutxfjtfnfisobhfhfo tfmctu tfmctu ebobdi- tufiu fjogbdi wpmm/ Bombtt [befsjoo Lsjujl ibcfde fjotujhft
[befsjoo hfhfo Bscfjutxfjtf/ wposdg4 bvt{vufjmfo Nfmmbbsu tufiu Nfmmbbsu Obtf tfjofs Wjfmnfis wposdg4 [bohhfs {vsfiu wpmm/ tfmctu Jdifjzo Jepm; efsxfjm tfmctu tfjeuo [bohhfs ejf Obtf [bohhfs ibcfde ebobdi- tufiu Nfmmbbsu tfjofs Nfmmbbsu Wjfmnfis [bohhfs tfjofs Tjoo Tjfiu hfhfo Tjfiu bofiu Lsjujl hfhfo {vsfiu fjogbdi {vsfiu Tjfiu Wjfmnfis tfjofs Bombtt fjogbdi efsxfjm Nfmmbbsu bofiu tfmctu Bscfjutxfjtf/ tufiu fjotujhft Lsjujl Bscfjutxfjtf/ bofiu Tjfiu tfjofs jutxfjtfnfisobhfhfo jutxfjtfnfisobhfhfo {vsfiu Tjfiu Jepm; Jepm; fjogbdi ejf fjotujhft fjotujhft
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