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Tech-focused SPAC TG Venture Acquisition files for a $100 million IPO

August 13, 2021

TG Venture Acquisition, a blank check company targeting the space technology, fintech, and TMT industries, filed on Friday with the SEC to raise up to $100 million.

The San Francisco, CA-based company plans to raise $100 million by offering 10 million units at $10. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50. At the proposed deal size, TG Venture Acquisition would command a market value of $126 million.

The company is led by CEO and Chairman Patrick Tsang, who is currently the Chairman of Tsangs Group Holdings Limited, a fourth-generation innovation focused Single-Family Office bridging east to west. The company plans to target the space technology, financial technology, and TMT industries and related sectors, focusing on businesses with enterprise values of less than $1.25 billion.

TG Venture Acquisition was founded in 2021 and plans to list on the Nasdaq under the symbol TGVCU. The company filed confidentially on July 1, 2021. ThinkEquity is the sole bookrunner on the deal.