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Mitchell Presser spoke to Crunchbase News about how special purpose acquisition companies (SPACs) will spend 2021 on the hunt for their perfect target company, which could leave many scrambling in an ultra-competitive environment while also disrupting the venture capital market.

As SPACs Hunt Targets, They Could Disrupt VC World

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Mitchell Presser spoke to Crunchbase News about how special purpose acquisition companies (SPACs) will spend 2021 on the hunt for their perfect target company, which could leave many scrambling in an ultra-competitive environment while also disrupting the venture capital market.According to Mitchell, while the SPAC business model has been around since the 1980s, it has become increasingly popular for a handful of reasons, including the profit opportunity for the sponsors and the interest from hedge funds.He added that the interest from sponsors and investors that created the SPAC explosion last year could make target companies harder to find, as these blank-check companies must now compete to find the best companies to acquire, or be left standing at the altar."I think you will see creativity," Mitchell said. "People will look hard for a 'first opportunity' in a market."He added that new geographies such as Asia, Latin America, and Europe will also be investigated by SPACs as they scour for targets.Read the <a target="_blank" href="https://news.crunchbase.com/news/as-spacs-hunt-targets-they-could-disrupt-vc-world/">full article</a>.