Spotify Backer Lakestar Said to Plan Rare German Blank-Check IPO
- Venture capital group targets up to 400 million euros for SPAC
- Deutsche Bank advising on listing, other banks could be added
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Lakestar, an early investor in Spotify Technology SA, is looking to raise as much as 400 million euros ($484 million) for a rare Europe-listed blank-check company, people familiar with the matter said.
The venture capital firm is working with Deutsche Bank AG and could list the special purpose acquisition company on the Frankfurt stock exchange as soon as the first quarter of next year, the people said. Lakestar’s SPAC will target technology firms, the people said, asking not to be identified as the matter is private.