To PE/HF people over 30: Why not start a SPAC?
Title says it all. Why not? You basically put up nothing in exchange for massive reward if you find a co to take public. Can even tailor aim of SPAC to your liking (distressed guys can start a SPAC looking to take reorg names public, growth guys obviously). You're in your 30s, so I would imagine you have an big network- I'm sure a MF principal or big HF sr analyst can raise 100-200mm+ for a SPAC, if not multiple SPACs. Sponsor gets 20% of that, those economics seems hard to beat. 2 years to bring a company public…
Where are you going to get the risk capital?
Extremely hard to raise a SPAC right now without a very credible team/board. Plus the economics you have to share to get the IPO off the ground make it far less attractive a use of time than it was a year ago
how hard is it to raise capital?
This would have been a great idea... 18 months ago.
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