DP Cap Acquisition I, a blank check company formed by Data Point Capital targeting the tech-enabled consumer and tech sectors, raised $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.
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 plans to list on the Nasdaq under the symbol DPCSU. Cowen acted as sole bookrunner on the deal.
