Thayer Ventures Acquisition II, a second blank check company formed by Thayer Ventures targeting travel and transportation, filed on Friday with the SEC to raise up to $175 million in an initial public offering.
The Valencia, CA-based company plans to raise $175 million by offering 17.5 million units at $10. Each unit consists of one share of common stock and one right to one-tenth of a share of common stock. At the proposed deal size, Thayer Ventures Acquisition II would command a market value of $237 million.
The company is led by Co-CEO Mark Farrell and Co-CEO and CFO Christopher Hemmeter, co-founders and Managing Directors of Thayer Ventures. Prior to Thayer Ventures, Farrell served in San Francisco politics, including as Mayor in 2018, and Hemmeter was a serial entrepreneur, most recently founding iCare Marketing which was sold to Sysco Foodservice. Thayer Ventures Acquisition II plans to concentrate on sourcing business combination opportunities within travel and transportation technology.
The duo's previous SPAC, Thayer Ventures Acquisition, merged with luxury travel startup Inspirato (ISPO; -98% from $10 offer price) in February 2022.
The Valencia, CA-based company was founded in 2024 and plans to list on the Nasdaq under the symbol TVAIU. Stifel is the sole bookrunner on the deal.
