Deals
Chamath Palihapitiya Invests in Two Deals in One Day During SPAC Boom
- Five companies announced mergers via blank-check firms Monday
- Palihapitiya teased investment via Twitter last week
Chamath Palihapitiya
Photographer: Mark Kauzlarich/Bloomberg
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Serial blank-check dealmaker Chamath Palihapitiya has doubled down on SPACs and has now participated in at least half a dozen deals that his own blank-check vehicles aren’t even involved in.
On Monday, Palihapitiya, the former Facebook Inc. executive and venture capitalist, invested in two companies going public via a special purpose acquisition company -- smart lockmaker Latch Inc. and solar lender Sunlight Financial LLC -- through the equity raised to support the deals. That’s on top of the six blank-check vehicles he’s helped raise.