Renaissance Capital logo

Corner Growth Acquisition Priced, Nasdaq: COOL

Blank check company formed by Corner Ventures targeting tech in the US and developed countries.

Industry: SPAC

First Day Return: +3.5%

We are a newly organized blank check company. We seek to build upon the experience and successes of Corner Ventures, a venture capital firm affiliated with the management, and co-founder of its predecessor firm, DAG Ventures, by pursuing investment opportunities in fast-growing technology companies. Mr. Cadeddu, our Co-Chairman and Mr. Tien, our Co-Chairman and CEO, serve as General Partners and Managing Directors of Corner Ventures. While we may acquire a business in any industry, our focus will be on the technology industry in the United States and other developed countries. Our founders, Mr. Cadeddu and Mr. Tien, have established Corner Growth to shift the technology investment model forward. Their strong track record in identifying iconic technology companies, extensive global network and ability to foster long-term business relationships with technology company founders, provides us with a unique ability to help leading technology companies access the public markets at an earlier stage in their growth cycle. As of November 2020, we estimate there were approximately 170 private U.S. technology companies with a valuation in excess of $1.0 billion, commonly referred to as “unicorns.” In comparison, as of November 2020, there were approximately 320 public U.S. technology companies with a market valuation in excess of $1.0 billion. Corner Ventures, and its predecessor firm, has invested in 18 “unicorns” to date with several others within its portfolio approaching “unicorn” status.

Corner Growth Acquisition (COOL) Performance

Created with Highcharts 10.3.2Chart context menuCOOL vs. IPO Index (IPOUSA)Jan 2021Jan 2…Apr 2021Jul 2021Oct 2021Jan 2022Apr 2022Jul 2022Oct 2022Jan 2023Apr 2023Jul 2023Oct 2023Jan 2024Apr 2024Jul 2024Oct 2024Jan 2025Apr 2025Jul 2025-50%0%-100%+ 50%View 5 days5dView 1 month1mView 3 months3mView year to dateYTDView 1 year1yView allAllRenaissance IPO IndexOur ETF tracks the IPO Index