Tech SPAC Tribe Capital Growth I prices $240 million IPO

Tribe Capital Growth I, a blank check company formed by Tribe Capital and Arrow Capital targeting the tech sector, raised $240 million by offering 24 million units at $10. Each unit consists of one share of common stock and one-fourth of a warrant, exercisable at $11.50.

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 plans to list on the Nasdaq under the symbol ATVCU. Cantor Fitzgerald acted as a lead manager on the deal.