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Sustainability SPAC Queen's Gambit Growth Capital files for a $225 million IPO

December 29, 2020

Queen's Gambit Growth Capital, a blank check company formed by Colle Capital and Agility Logistics targeting a sustainable business, filed on Tuesday with the SEC to raise up to $225 million in an initial public offering.

The New York, NY-based company plans to raise $225 million by offering 22.5 million units at $10. Affiliates of Agility, an owner of the sponsor, and Luxor Capital Group each intend to purchase 9.9% of units in the offering. At the proposed deal size, Queen's Gambit Growth Capital would command a market value of $281 million.

The company's all-female management team and board is led by CEO and Director Victoria Grace, a Founding Partner of Colle Capital Partners I, an opportunistic, early stage technology venture fund. She is joined by CFO Anastasia Nyrkovskaya, who currently serves as CFO of FORTUNE Media.

Queen's Gambit Growth Capital plans to target businesses that provide solutions promoting sustainable development, economic growth, and prosperity, with sectors of potential interest including clean energy, healthcare, financial technology, industrials, mobility, and emerging technology

Queen's Gambit Growth Capital was founded in 2020 and plans to list on the Nasdaq under the symbol GMBT.U. The company filed confidentially on December 17, 2020. Barclays is the sole bookrunner on the deal.