On Monday, serial blank-check dealmaker Chamath Palihapitiya invested in smart lockmaker Latch Inc. and solar lender Sunlight Financial LLC, TechCrunch reports. The two companies went public via a special purpose acquisition company in deals worth a combined $15.4 billion, including debt.
- Palihapitiya invested in Latch and Sunlight through the equity to support the deals and has now participated in at least half a dozen deals that his blank-check vehicles aren’t involved in.
- The amount Palihapitiya paid for the Monday deals could not be disclosed, having announced he was leading a public investment in private equity on January 21.
- The deal comes after a record year for blank-check companies with another $15 billion raised in fresh capital already this month.
- Palihapitiya is one of the investors showing up in public announcements, and there is the possibility other private individuals are investing in SPAC without disclosing their involvement.
Latch Inc. and Sunlight Financial LLC had an enterprise value of $1.56 billion and $1.3 billion, respectively on SPAC merger as of January 25. Shell company Spartan Acquisition II Corp is trading +1.19% higher on the premarket.
