Private equity firm's SPAC Cartesian Growth II files for a $200 million IPO

Cartesian Growth II, the second blank check company formed by Cartesian Capital Group targeting high-growth businesses, filed on Thursday with the SEC to raise up to $200 million in an initial public offering.

The 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. Cantor Fitzgerald intends to purchase $15 million worth of units in the offering (7.5% of the deal). At the proposed deal size, Cartesian Growth II would command a market value of $250 million.

The company is led by CEO and Chairman Peter Yu, the founder and Managing Partner of Cartesian Capital Group, and CFO and Director Beth Michelson, 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.

Management's previous SPAC, Cartesian Growth Corp (GLBL), has a pending merger agreement with global investment firms Tiedemann Group and Alvarium Investments, to form Alvarium Tiedemann Holdings.

The New York, NY-based company was founded in 2021 and plans to list on the Nasdaq under the symbol RENEU. Cartesian Growth II filed confidentially on November 8, 2021. Cantor Fitzgerald is the sole bookrunner on the deal.