The ‘Blank-Cheque’ or ‘Special Purpose Acquisition Companies’ (SPAC) as they are legally termed as are diverse investment vehicles that elevate finances on basis of the public markets with the robust intent of the merger or procurement with the privatized enterprise.
They normally require to finish the procurement or acquisition within a minimum span of two years of fund raising. In case, they fail to perform so to do it, the entire finance need to be reimbursed back to the investors.
Queen’s Gambit, a one such ‘Blank-Cheque’ or ‘Special Purpose Acquisition Companies’ (SPAC) is in pursuit to invest within
- Clean, sustainable energy,
- Healthcare,
- FinTech,
- Industrials,
- Emerging Technology as well as
- Mobility
It is hugely supported in its endeavour by one of the principal Logistics enterprises manning entire Middle Eastern and North African territory, the Agility Group, who have invested a staggering $35Mn in the Blank-Cheque firm Queen’s Gambit Growth Capital.
The Vice-Chairman of Agility group, Tarek Sultan, stated that: “Agility’s investment in Queen’s Gambit reflects our commitment to sustainability and our belief that innovative technology can yield both social and economic returns. This is not a new position for us. We’ve been investing in stakeholder capitalism for more than a decade.”
Mr Sultan further commented that: “The company has all the great potential to tap into a differentiated network and perspective that positions it to execute a business combination with an attractive target.”
Mr Sultan also added that: “Agility brings unique capabilities to the table, including our emerging market leadership, roster of 60,000 business customers, strategic partnerships, and experience of our Ventures team.”
Agility has an extended standing collaboration with Colle Capital, having invested in numerous establishments together.
Queen’s Gambit’s all-female board within its robust foundation viz the management team headed by New York-based venture capitalist and CEO Victoria Grace as well as founding partner for Colle Capital has shown a lot of promise in the past.
For powering out a better constant rally within the Wall Street Listings, Agility group is amongst the few of the Middle Eastern group that have widely invested within the realm of greater progression of SPACs, as the projection done by Goldman Sachs reveal that during the previous year, it has raised up a record $70Bn fuelling the paradigm shift.
However, there is no denial that SPACs although have a lot risks to operate them comfortably, it has never immobilized the trust of core investors from chipping in with their crucial contributions.
SPACS have expanded their grip amongst their investors amid the pandemic as an alternate to initial public offerings. In a blank-cheque fusion, businesses can pitch to investors utilizing forward-looking financials, which is not permissible for conventional IPOs but is more caring for initial stage establishments.
In December the previous year 2020, Softbank stated that it will unveil a SPAC to rise $525Mn to invest in a technology firm. Agility has an extended standing collaboration with Colle Capital, having invested in numerous establishments together.
Agility who got recently included to the FTSE4Good Index Series, a source utilized by investors for identification of businesses globally with robust environmental, social and governance (ESG) practices.
