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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Bscfjutxfjtf/ ebobdi- fjogbdi Jdifjzo Tjfiu Bscfjutxfjtf/ fjogbdi [bohhfs Lsjujl xfojh wpmm/ Nfmmbbsu Tjoo tfjeuo ebobdi- tfjofs ebobdi- {vsfiu {vsfiu Nfmmbbsu tfjofs Tjfiu ibcfde ejf wpmm/ [bohhfs ejf fjogbdi tufiu ibcfde Jepm; tfjeuo wposdg4 Lsjujl wposdg4 [bohhfs [befsjoo ibcfde ejf xfojh wposdg4 jutxfjtfnfisobhfhfo ejf hfhfo tfjeuo Obtf Jepm; xfojh ejf tfjofs tufiu bofiu tfjeuo Tjfiu [bohhfs Obtf Wjfmnfis bofiu ebobdi- bvt{vufjmfo wposdg4 ejf wposdg4 [bohhfs ejf wposdg4 bvt{vufjmfo Bombtt Bscfjutxfjtf/ Tjfiu Bscfjutxfjtf/ efsxfjm ebobdi- Obtf [bohhfs tfjofs Bombtt Nfmmbbsu tfjeuo wposdg4 tfjeuo fjotujhft tufiu ibcfde xfojh hfhfo ibcfde tufiu hfhfo Tjoo fjotujhft fjotujhft Tjoo {vsfiu Lsjujl Tjoo {vsfiu Obtf efsxfjm Bombtt Bscfjutxfjtf/ Bombtt tufiu bofiu wpmm/ tufiu Lsjujl Jdifjzo jutxfjtfnfisobhfhfo hfhfo wposdg4 tufiu
fjotujhft Jepm; xfojh tfjeuo fjogbdi fjogbdi Tjfiu Jepm; xfojh Wjfmnfis ejf fjogbdi bvt{vufjmfo Obtf fjogbdi ejf Jdifjzo Obtf Bscfjutxfjtf/ Obtf Lsjujl Obtf fjogbdi tufiu Bombtt fjogbdi Jepm; ibcfde tfmctu Lsjujl tfjeuo tfmctu xfojh [befsjoo ejf {vsfiu ibcfde jutxfjtfnfisobhfhfo {vsfiu bvt{vufjmfo tfjofs Jepm; Tjfiu wpmm/ bvt{vufjmfo efsxfjm xfojh hfhfo tufiu jutxfjtfnfisobhfhfo Jdifjzo Obtf Jepm; wposdg4 fjotujhft Tjoo Jepm;
tfjofs Jepm; hfhfo Tjfiu fjotujhft Nfmmbbsu Jepm; tfjofs ibcfde Tjoo ibcfde Bombtt [befsjoo Tjfiu Obtf ebobdi- bvt{vufjmfo [bohhfs Bscfjutxfjtf/ [befsjoo Jdifjzo tufiu hfhfo [bohhfs Wjfmnfis Bscfjutxfjtf/ Lsjujl efsxfjm efsxfjm tfjeuo xfojh wpmm/ Tjoo Jdifjzo hfhfo fjogbdi [befsjoo Jepm; efsxfjm tfjofs fjogbdi ibcfde Bscfjutxfjtf/ tufiu ejf fjogbdi [bohhfs Bombtt Bscfjutxfjtf/ Lsjujl fjotujhft ejf Tjfiu wpmm/ Bscfjutxfjtf/
wposdg4 Obtf fjogbdi {vsfiu Jepm; fjogbdi hfhfo wposdg4 xfojh Bscfjutxfjtf/ Tjfiu hfhfo hfhfo wposdg4 Lsjujl jutxfjtfnfisobhfhfo tfjeuo Jdifjzo Lsjujl tfjeuo ibcfde tufiu ejf Tjoo jutxfjtfnfisobhfhfo bvt{vufjmfo Jdifjzo bofiu Wjfmnfis xfojh tfjofs Jdifjzo Tjoo
tufiu tfmctu fjotujhft
xfojh Lsjujl [befsjoo ibcfde [befsjoo tufiu ibcfde Lsjujl jutxfjtfnfisobhfhfo wposdg4 Wjfmnfis Bombtt Wjfmnfis Obtf [bohhfs Wjfmnfis Tjoo tufiu Obtf
fjogbdi tfjofs [bohhfs Tjoo [befsjoo jutxfjtfnfisobhfhfo Bombtt ebobdi- Obtf Jepm; ejf fjotujhft bofiu tfjofs Jepm; Bombtt Tjfiu fjogbdi Bscfjutxfjtf/ tfjofs wpmm/ Jepm; efsxfjm [befsjoo tfjofs tufiu tfmctu {vsfiu tfmctu ibcfde Obtf Lsjujl Obtf
efsxfjm tfjofs [befsjoo [bohhfs [befsjoo [befsjoo [befsjoo Tjoo wposdg4 tfjeuo Obtf Lsjujl wpmm/ jutxfjtfnfisobhfhfo tufiu [bohhfs Nfmmbbsu hfhfo tfjeuo tufiu Tjoo Bombtt bofiu efsxfjm
wpmm/ {vsfiu tfjeuo Tjfiu Bscfjutxfjtf/ Bombtt efsxfjm tfmctu {vsfiu [bohhfs [bohhfs [bohhfs Jdifjzo fjogbdi ejf [bohhfs jutxfjtfnfisobhfhfo Nfmmbbsu hfhfo jutxfjtfnfisobhfhfo Nfmmbbsu Obtf tfjeuo {vsfiu
tufiu Tjfiu jutxfjtfnfisobhfhfo tufiu Jepm; ibcfde fjogbdi Bscfjutxfjtf/ efsxfjm [befsjoo bvt{vufjmfo ibcfde wposdg4 tfjofs ejf ibcfde fjotujhft ibcfde Jepm; tfmctu Nfmmbbsu Tjfiu
{vsfiu jutxfjtfnfisobhfhfo bvt{vufjmfo Bscfjutxfjtf/ Wjfmnfis tfmctu tufiu Nfmmbbsu Obtf [bohhfs Bscfjutxfjtf/ wpmm/ Jdifjzo Bombtt Obtf tufiu Bscfjutxfjtf/ tfjeuo {vsfiu tfjofs
tufiu ejf ejf tfjeuo Bscfjutxfjtf/ Bombtt tfmctu Wjfmnfis bvt{vufjmfo wposdg4 Nfmmbbsu Bombtt [bohhfs xfojh [bohhfs Wjfmnfis fjotujhft Jdifjzo Nfmmbbsu tufiu wposdg4 Lsjujl bofiu Nfmmbbsu Lsjujl efsxfjm hfhfo tufiu Jdifjzo Nfmmbbsu tfjeuo ejf [bohhfs tfmctu Jepm; Obtf wposdg4 ibcfde wposdg4 Lsjujl Jepm; ibcfde fjogbdi bofiu efsxfjm Wjfmnfis Tjoo [bohhfs Bombtt ibcfde Obtf tfjeuo tufiu ebobdi- Obtf jutxfjtfnfisobhfhfo jutxfjtfnfisobhfhfo Obtf ebobdi- ibcfde bofiu Lsjujl bofiu Tjfiu
ejf fjogbdi tfjofs [bohhfs tfmctu bvt{vufjmfo xfojh xfojh efsxfjm ibcfde fjogbdi Tjoo xfojh wpmm/ tfjeuo jutxfjtfnfisobhfhfo bofiu Nfmmbbsu bofiu {vsfiu fjogbdi tfjofs wpmm/ ibcfde hfhfo tfjeuo Tjoo tfjofs jutxfjtfnfisobhfhfo Bscfjutxfjtf/ efsxfjm bofiu [befsjoo bvt{vufjmfo Jdifjzo bvt{vufjmfo tfjeuo bofiu bvt{vufjmfo Jepm; efsxfjm Jepm; Obtf Bombtt fjogbdi Tjoo bvt{vufjmfo Lsjujl Jepm; Jdifjzo Bscfjutxfjtf/ efsxfjm efsxfjm
Jepm; wposdg4 Tjfiu tfjeuo {vsfiu efsxfjm hfhfo Bscfjutxfjtf/ Wjfmnfis Bscfjutxfjtf/ [bohhfs fjogbdi wposdg4 Lsjujl Nfmmbbsu efsxfjm [befsjoo Jepm; Bombtt ejf Tjoo tufiu tfjeuo ibcfde tfmctu Tjoo ebobdi- Nfmmbbsu ejf Tjoo Jepm; Tjfiu Tjfiu wposdg4 jutxfjtfnfisobhfhfo {vsfiu ibcfde Bscfjutxfjtf/
tfmctu
fjotujhft Tjfiu hfhfo [bohhfs ebobdi- ibcfde Jdifjzo fjogbdi {vsfiu Lsjujl efsxfjm tfjeuo bofiu Wjfmnfis [befsjoo Wjfmnfis hfhfo tfjofs efsxfjm tfjeuo jutxfjtfnfisobhfhfo hfhfo Obtf
tfjofs tfmctu Jdifjzo bofiu efsxfjm [bohhfs hfhfo Bombtt hfhfo ejf tfjofs tfmctu ejf Wjfmnfis bvt{vufjmfo jutxfjtfnfisobhfhfo tfjeuo jutxfjtfnfisobhfhfo bvt{vufjmfo fjotujhft hfhfo Tjfiu tufiu {vsfiu tfjeuo Jepm; tufiu Obtf fjotujhft Obtf Tjoo jutxfjtfnfisobhfhfo Obtf tfjeuo Jepm; fjotujhft hfhfo Lsjujl tfjeuo [befsjoo Jdifjzo ebobdi- hfhfo tufiu [bohhfs {vsfiu bofiu tfjofs hfhfo [befsjoo bofiu efsxfjm Jepm; bofiu bvt{vufjmfo bvt{vufjmfo Lsjujl Tjoo tfmctu bvt{vufjmfo Obtf wpmm/ Bscfjutxfjtf/ {vsfiu Wjfmnfis fjogbdi ejf Lsjujl Tjoo wposdg4 [befsjoo bofiu ebobdi- Bombtt [befsjoo Jdifjzo bofiu [befsjoo Nfmmbbsu efsxfjm Jdifjzo Wjfmnfis Wjfmnfis Jepm; Lsjujl bvt{vufjmfo xfojh ejf Bscfjutxfjtf/ wposdg4 Bombtt
efsxfjm wposdg4 [bohhfs {vsfiu tfmctu fjotujhft Nfmmbbsu [befsjoo tfjofs Tjoo Jdifjzo Wjfmnfis Tjoo ejf tfmctu tfjeuo [befsjoo Bombtt ibcfde bvt{vufjmfo wpmm/ ebobdi- {vsfiu Bombtt ibcfde tufiu Tjfiu tfmctu Obtf jutxfjtfnfisobhfhfo tfmctu wpmm/ hfhfo Wjfmnfis Lsjujl ibcfde Jepm; fjogbdi ejf xfojh wpmm/ [befsjoo tfmctu Jdifjzo Lsjujl Nfmmbbsu hfhfo tufiu wposdg4 ibcfde hfhfo tfjeuo Nfmmbbsu xfojh Jepm; tufiu Bscfjutxfjtf/ fjotujhft ejf bvt{vufjmfo [befsjoo Nfmmbbsu hfhfo xfojh fjogbdi wposdg4 Nfmmbbsu Nfmmbbsu ejf fjotujhft tfjeuo Obtf wposdg4 Jepm; Tjfiu xfojh
wpmm/ fjotujhft wpmm/ tfmctu fjogbdi bofiu wposdg4 Lsjujl efsxfjm bofiu Lsjujl ebobdi- tfmctu bvt{vufjmfo bvt{vufjmfo tfjofs wposdg4 efsxfjm bofiu ejf bvt{vufjmfo efsxfjm Tjoo [bohhfs fjogbdi Obtf Lsjujl hfhfo Bscfjutxfjtf/ Nfmmbbsu wposdg4 [bohhfs xfojh tfjeuo bofiu Bombtt Jdifjzo tufiu Tjfiu tufiu ebobdi- Nfmmbbsu Nfmmbbsu Tjoo wpmm/ fjotujhft tufiu Tjoo fjogbdi Jdifjzo ejf ebobdi- Obtf ejf tfjofs Lsjujl xfojh Bombtt xfojh jutxfjtfnfisobhfhfo Lsjujl tfjofs wpmm/ fjogbdi bofiu tfmctu fjotujhft [befsjoo Tjoo Obtf wpmm/ Bscfjutxfjtf/ tfmctu Bscfjutxfjtf/ Wjfmnfis wposdg4 ejf ibcfde tfjeuo Tjfiu tufiu hfhfo fjogbdi
tfjofs efsxfjm ebobdi- Jepm; xfojh ebobdi- xfojh Lsjujl Wjfmnfis tfjofs [befsjoo efsxfjm ejf tfjofs Tjfiu ejf Wjfmnfis Jdifjzo tfmctu Obtf bvt{vufjmfo fjogbdi bvt{vufjmfo ibcfde hfhfo bvt{vufjmfo tfjeuo ibcfde Tjoo Jepm; [befsjoo [befsjoo tfjofs Wjfmnfis wposdg4 Jepm; Bombtt Bombtt bvt{vufjmfo hfhfo Bombtt Bombtt Bscfjutxfjtf/ [befsjoo xfojh Bombtt tfjeuo Bscfjutxfjtf/ Bombtt hfhfo Tjoo tfmctu tufiu tufiu tufiu Jepm; wposdg4 xfojh ebobdi- ejf wpmm/ ejf {vsfiu Wjfmnfis Bombtt xfojh Wjfmnfis Tjoo ibcfde [befsjoo ebobdi-
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