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Spacs still have a place for fast-growing startups: AvePoint CEO 

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Yong Jun Yuan

Yong Jun Yuan

Published Tue, Feb 13, 2024 · 05:00 AM
    • AvePoint chief executive Jiang Tianyi believes that a Spac offers more certainty around the amount of capital raised for the company.
    • AvePoint chief executive Jiang Tianyi believes that a Spac offers more certainty around the amount of capital raised for the company. PHOTO: AVEPOINT

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    SPECIAL purpose acquisition companies (Spacs) have gained a reputation for overvaluing hyped-up startups at the point of listing, while being rather value-destructive for shareholders who stick with the process.

    Yet, AvePoint chief executive Jiang Tianyi believes there is still a place for the instrument.

    In his opinion, Spacs provides startups with an alternative form of listing which prioritises the company’s interests better than that of a traditional initial public offering (IPO).

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