Private equity firm's SPAC Cartesian Growth Corp files for a $250 million IPO

Cartesian Growth Corp, a blank check company formed by Cartesian Capital Group targeting high-growth businesses, filed on Friday with the SEC to raise up to $250 million in an initial public offering.

The New York, NY-based company plans to raise $250 million by offering 25 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, Cartesian Growth Corp would command a market value of $313 million.

The company is led by CEO and Chairman Peter Yu, the founder and Managing Partner of Cartesian Capital Group, and CFO and Director Gregory Armstrong, who is a Senior Managing Director at Cartesian. The company plans to target high-growth businesses with proven or potential transnational operations or outlooks in order to capitalize on the experience, reputation, and network of its management team.

Cartesian Growth Corp was founded in 2020 and plans to list on the Nasdaq under the symbol GLBLU. The company filed confidentially on January 7, 2021. Cantor Fitzgerald is the sole bookrunner on the deal.