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VC's SPAC Khosla Ventures Acquisition IV files for a $200 million IPO, targeting differentiated tech

February 23, 2021

Khosla Ventures Acquisition IV, the fourth blank check company formed by Khosla Ventures targeting differentiated tech with large market opportunities, filed on Tuesday with the SEC to raise up to $200 million in an initial public offering.

The Menlo Park, CA-based plans to raise $200 million by offering 20 million shares at $10. Unlike many other SPACs, the offering will not contain any warrants. The company may raise an additional $10 million pursuant to a  forward purchase agreement with affiliates of the sponsor. The share count excludes 5 million shares that sponsor may receive after de-SPAC and certain performance hurdles. At the proposed deal size, Khosla Ventures Acquisition IV will command a market value of $257 million.

The SPAC's management team consists of founder Vinod Khosla, who is the founder of Khosla Ventures; CEO Samir Kaul, founding partner and Managing Director of Khosla; and CFO/COO Peter Buckland, Partner, Managing Director and COO of Khosla. The group's other SPACs include Khosla Ventures Acquisition III (KVSC), Khosla Ventures Acquisition II (KVSB), and Khosla Ventures Acquisition (KVSA), which all filed concurrently on February 12th. 

Khosla Ventures Acquisition IV intends to pursue opportunities with private, high-quality growth companies addressing large market opportunities with highly differentiated, proprietary technology.

Khosla Ventures Acquisition IV was founded in 2021 and plans to list on the Nasdaq under the symbol KVSD. Goldman Sachs and Piper Sandler are the joint bookrunners on the deal.