TCV Acquisition, a blank check company formed by Technology Crossover Ventures targeting tech, raised $350 million by offering 35 million shares at $10. The company did not offer units with warrants attached.
The company is led by Chairman Jay Hoag, a Founding General Partner at Technology Crossover Ventures (TCV), and Co-CEOs Christopher Marshall and Jon Reynolds Jr., who serve as General Partners at TCV. TCV Acquistion intends to pursue an initial business combination with a high-quality growth company that has the potential to become a market leader in the software, internet, and/or financial technology sectors.
TCV Acquisition plans to list on the Nasdaq under the symbol TCVA. Citi, Goldman Sachs and Morgan Stanley acted as lead managers on the deal.
