Thayer Ventures Acquisition II, the second blank check company formed by Thayer Ventures targeting travel and transportation, raised $175 million by offering 17.5 million units at $10. Each unit consists of one share of common stock and one right to receive one-tenth of a share upon the completion of an initial business combination.
The company is led by Co-CEO Mark Farrell and Co-CEO and CFO Christopher Hemmeter, co-founders and Managing Directors of Thayer Ventures. Prior to Thayer Ventures, Farrell served in San Francisco politics, including as Mayor in 2018, and Hemmeter was a serial entrepreneur, most recently founding iCare Marketing which was sold to Sysco Foodservice. Thayer Ventures Acquisition II plans to concentrate on sourcing business combination opportunities within travel and transportation technology.
The duo's previous SPAC, Thayer Ventures Acquisition, merged with luxury travel startup Inspirato (Nasdaq: ISPO; -98% from $10 offer price) in 2022.
Thayer Ventures Acquisition II plans to list on the Nasdaq under the symbol TVAIU. Stifel acted as sole bookrunner on the deal.
