Three Khosla Ventures-Backed SPACs Seek to Raise $1.2 Billion

Three blank-check companies backed by venture capital firm Khosla Ventures filed on Friday to raise a combined $1.2 billion.

The single-day triple filing is another sign of how hot listings by special purpose acquisition companies, or SPACs, have become.

After a record-setting 2020, 143 SPACs have already raised more than $44 billion on U.S. exchanges this year, according to data compiled by Bloomberg. At least 113 more blank-check firms seeking to raise a combined $30 billion are awaiting initial public offerings.

Billionaire Alec Gores filed for two blank-check companies on Feb. 2. Two days later, two SPACs were filed by former Cosmopolitan magazine editor Joanna Coles and Connector Capital Corp. Chief Executive Officer Jonathan Ledecky, the co-owner of the National Hockey League’s New York Islanders.

Each of the three Khosla SPACs seeks to sell shares for $10 each. The three won’t focus on a particular industry when seeking merger targets, according to the filings.

The companies and the amounts they seek to raise are:

  • Khosla Ventures Acquisition Co., $300 million
  • Khosla Ventures Acquisition Co. II, $400 million
  • Khosla Ventures Acquisition Co. III, $500 million

Khosla Ventures, based in Menlo Park, California, was founded by Vinod Khosla. The offerings are being led by Goldman Sachs Group Inc., with Citigroup Inc. joining on two of the three and Piper Sandler on the third.

©2021 Bloomberg L.P.

BQ Install

Bloomberg Quint

Add BloombergQuint App to Home screen.