Renaissance Capital logo

Technology SPAC Tribe Capital Growth I files for a $200 million IPO

January 25, 2021

Tribe Capital Growth I, a blank check company formed by Tribe Capital and Arrow Capital targeting the tech sector, filed on Monday with the SEC to raise up to $200 million in an initial public offering.

The San Francisco, CA-based company plans to raise $200 million by offering 20 million units at $10. Each unit consists of one share of common stock and one-third of a warrant, exercisable at $11.50. At the proposed deal size, Tribe Capital Growth I would command a market value of $250 million.

The company is led by CEO and Chairman Arjun Sethi, co-founder and Partner of venture firm Tribe Capital Management. He is joined by CFO Omar Chohan, who is a Partner and leader of the Special Situations Group at Tribe Capital, and VP Sumit Mehta, who is a Managing Director at boutique asset manager and investment advisory firm Arrow Capital. The company plans to pursue opportunities with top-decile private technology companies that are exhibiting inflection points in their growth.

Tribe Capital Growth I was founded in 2020 and plans to list on the Nasdaq under the symbol ATVCU. The company filed confidentially on December 21, 2020. Cantor Fitzgerald is the sole bookrunner on the deal.