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SPACs used to be a joke in Silicon Valley — now they're going mainstream
Roger Lee of Battery Ventures says that “SPAC” used to be a “bad four-letter word” in Silicon Valley. Now, the board of every high-profile start-up is discussing special purpose acquisition companies as a legitimate way to go public, according to Jeff Crowe of Norwest Venture Partners. In the eyes of Lux Capital co-founder Peter Hebert, SPACs are “stealing from the 2021 IPO calendar.” “We have encouraged our highest-quality companies to seriously consider this,” said Hebert, whose firm raised its own health-tech SPAC in October and is looking for a target. “The vast majority of companies looking at ... (full story)