Crescent Cove Advisors launching Spac to target South-east Asian tech firms

SAN Francisco-based tech investment firm Crescent Cove Advisors, founded by Singaporean Heng Jun Hong, has filed confidentially to launch a special purpose acquisition company (Spac) targeting South-east Asia's technology sector, sources said.

Crescent Cove is believed to be targeting an initial raise of around US$200 million and is expected to list shares of the Spac on Nasdaq.

Pandu Sjahrir, an investor based in Indonesia, is believed likely to join the Spac's board. He serves as a board member at Gojek, chairman of Sea Limited for Indonesia, and managing director of South-east Asia-focused investment firm Indies Capital Partners.