DP Cap Acquisition I, a blank check company formed by Data Point Capital targeting the tech-enabled consumer and tech sectors, filed on Friday with the SEC to raise up to $200 million in an initial public offering.
The Boston, MA-based company plans to raise $200 million by offering 20 million units at $10. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50. At the proposed deal size, DP Cap Acquisition I would command a market value of $250 million.
The company is led by Chairman Scott Savitz, the founder and Managing Partner of venture fund manager Data Point Capital, and CEO, CFO, and Director Martin Zinny, who has held roles at Fidelity, Whale Rock Capital, Point72, Omega Advisors, and Millennium. The company plans to target the tech-enabled consumer and tech sectors, particularly e-commerce and marketplaces and enterprise software and focusing on businesses with enterprise values above $750 million.
DP Cap Acquisition I was founded in 2021 and plans to list on the Nasdaq under the symbol DPCSU. The company filed confidentially on June 7, 2021. Cowen is the sole bookrunner on the deal.
