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SPACs Target Proptech Companies For IPO


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From left: Lionheart’s Ophir Sternberg, Fifth Wall’s Brendan Wallace, Chamath Palihapitiya, Supernova Partners’ Spencer Rascoff and Proptech Acquisition II’s Tom Hennessy (Getty, LinkedIn, iStock)
 
It’s a good time to be a startup aspiring to go public.
Investors plowed more than $83 billion into blank-check companies last year and 11 days into 2021, they’ve invested $7.2 billion more.
More than a half-dozen of those entities, also known as special-purpose acquisition companies, are targeting proptech startups. The VC firm Fifth Wall Ventures was the latest to jump into the fray, and other big firms including CBRE and SoftBank have recently hopped on the SPAC bandwagon. ....

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