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After raising $3.7 billion for 5 SPACs in 2020, investor Chamath Palihapitiya has reportedly confidentially filed for 7 more with the SEC

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After raising $3.7 billion for 5 SPACs in 2020, investor Chamath Palihapitiya has reportedly confidentially filed for 7 more with the SEC
  • Chamath Palihapitiya confidentially filed seven original SPACs with the SEC, according to the Wall Avenue Journal.
  • The buzzy investor publicly backed 5 SPACs at a combined total of $3.7 billion in 2020.
  • Palihapitiya has expressed interest in forming an additional crew of biotech-centered SPACs.

Chamath Palihapitiya’s enthusiasm for special reason acquisition companies, or SPACs, may possibly well scramble even deeper than his Wall Avenue disciples and social media followers trace.

The buzzy investor publicly backed 5 SPACs at a combined total of $3.7 billion in 2020 through his expertise investing agency, Social Goods. However, a original bid from the Wall Avenue Journal stumbled on that Palihapitiya confidentially filed for seven original SPACs with the Securities and Substitute Price, pointing to original ventures to come support.

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Though the industry and firm targets for these seven SPACs remain unknown, Palihapitiya has been tough at work bringing others public through the SPAC course of, which capabilities in another scheme from a worn initial public offering. His fresh contributions include Virgin Galactic Holdings, Opendoor Technologies, Clover Health Investments, and SoFi.

Earlier this week, Palihapitiya equipped his private stake in Virgin Galactic, cashing out a total of $211 million from 6.2 million shares, according to an SEC filing. He had begun selling shares in December, stating on Twitter at the time that he would want money to support fund “a lot of original projects starting in 2021.”

According to the Wall Avenue Journal, citing sources, Palihapitiya has expressed interest in forming an additional crew of biotech-centered SPACs in the future.

A former Facebook government, Palihapitiya married his expertise background and investing prowess to turn into a leading figure in the booming SPAC market. He has chunky followings on social media platforms care for Reddit and Twitter, and is a ordinary on CNBC.

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His following has turn into so tough that Twitch has scheme him to use their stay-streaming platform to invent his business deal bulletins, according to the Wall Avenue Journal. In a fresh interview with Bloomberg, Palihapitiya mentioned his social media savvy has helped him connect with a original generation of investors.

“No one’s going to listen to [Warren] Buffett,” he told Bloomberg. “Buffett doesn’t cling the energy to voice what he mentioned 30 and 40 years ago in 2021. And that’s OK, he’s undoubtedly earned the apt to loosen up and be the GOAT, but there desire to be some other of us that take that mantle, take the baton and make it as successfully to this youthful generation in the language they trace.”

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After raising $3.7 billion for 5 SPACs in 2020, investor Chamath Palihapitiya has reportedly confidentially filed for 7 more with the SEC