GP Bullhound has launched a €200 million special purpose acquisition company.
The investment bank says it is looking to build a European ‘tech titan’ after listing the shell company GP Bullhound Acquisition I SE, incorporated in Luxembourg, on the Euronext in Amsterdam.
“The company has been established for the purpose of acquiring a company in the technology sector with a focus on the software, digital media, digital commerce, or FinTech sub-sectors,” GP Bullhound stated.
Any target company will have an equity value between €800 million and €2 billion, with principal operations in a European economic area state, the UK, Switzerland or Israel. In effect, they will be fast-tracked into becoming a listed company.
Hugh Campbell, Manish Madhvani and Per Roman are co-founders and managing partners at GP Bullhound.
“This SPAC is a result of our vision and belief at GP Bullhound in the transformative power of technology,” they said.
“Our competitive advantage is a result of 20 years of working with category leaders in the industry. The SPAC will focus on bringing the next tech titan centred in software in the underserved European ecosystem and deliver exponential growth by providing our expertise, capital, and access to the equity capital markets.”
At opening, the share price was set at €10 per share and the Company has successfully raised €200m.