SPACs Have Already Topped 2020’s Record Year, With $89 Billion Raised

Blank check companies have already raised 7% more than they did all of last year

The Year of the SPAC? It looks to be that way already. Only three months into 2021, blank check companies have surpassed the record-setting amount of money raised last year.

So far this year, SPACs have raised $89.2 billion, according to blank-check tracking firm SPAC Research. Even if another dollar isn’t raised in 2021, that’s still 7% more than the $83.4 billion SPACs raised last year. There have also been a record number of blank check companies that went public this year — 275, compared to the 248 IPOs the industry saw in 2020.

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Sean Burch

Tech reporter • • @SeanB44