If you were fortunate enough to attend the eagerly anticipated Bloomberg Invest Summit in New York this year, you were in for a treat. CC Capital Partners Founder and Senior Managing Director Chinh Chu and Mariposa Capital Founder and CEO Martin E. Franklin sat down with Bloomberg’s Ed Hammond at the Bloomberg Invest Summit and delivered a masterclass discussion about the world of SPAC (special purpose acquisition company)
Chinh Chu, well known for his past in deal-making at Blackstone, and Sir Martin E. Franklin, well known for founding a variety of successful company’s, discussed how they view the role of the SPAC, the challenges they face and the outlook for SPACs in the future.
From a crypto point of view, the ICO (Initial Coin Offering) offered some competition in the early part of 2018. However, the tailing off of ICO’s appears to have only strengthened the role of the SPAC in the more traditional and trusted IPO.
The discussion between the two investing giants threw up some interesting perspectives and certainly dispelled one or two myths about the role of the SPAC., Interestingly, both men were in agreement about the long term role of the SPAC. London-born Sir Martin Ellis Franklin who moved to the United States from the United Kingdom aged 15, even talked about the investment being made with his grandchildren in mind. This seemed particularly appropriate as minutes before in the talk, Chinh Chu, the billionaire investor and native of Vietnam, described Sir Martin E. Franklin as the ‘grandaddy of SPAC.’
The discussion was filmed and uploaded onto YouTube. You can view the clip, less than 30 minutes long, below. Although there was no big reveal, the talk provided some excellent first-hand insights into what the SPAC does and why it does it, all from two of the investing world’s biggest names.
