Just a couple of days after Klaus Hommels’ Lakestar (rather successfully) listed its SPAC on the Frankfurt Stock Exchange, there’s some other interesting SPAC-related news for those who are interested in the phenomenon.
SPACs typically raise money in an IPO to pursue an acquisition (in this case, likely to be a European tech firm) without telling their investors which company they will buy. The deal then takes that private company public.
The filing was delivered (ha!) by Dominik Richter, founder and CEO of HelloFresh, the Frankfurt-listed meal kit delivery company with a market cap of more than $10 billion, and Roman Kirsch, a Berlin-based serial tech entrepreneur and investor (Lesara, Casacanda, Amorelie etc.).
Also involved on a ‘management team’ level: Fuse Venture Partners founder Spyro Korsanos, who played a pivotal role at Rocket Internet and Global Founders Capital in the past.
Rocket Internet is, of course, also pursuing a US-listed SPAC.
As for the new blank-check company, which is dubbed ‘Tio Tech A’, according to the filing it will be advised by the likes of Klarna co-founder Victor Jacobsson, another HelloFresh co-founder by the name of Thomas Griesel, well-known serial German tech entrepreneur and personality Jan Beckers, prolific investor Jonathan Teklu, Kingsway Capital boss Manuel Stotz, and others.
Guess we can call it something of a trend now, right?