Queen's Gambit Growth Capital II, the second blank check company with an all-female team formed by VC Victoria Grace and Agility Logistics targeting a sustainable business, withdrew its plans for an initial public offering on Tuesday. It had filed in February 2021 to raise $300 million by offering 30 million units at a price of $10, with each unit containing one share of common stock and one-quarter of a warrant.
The company's all-female management team and board was set to be led by CEO and Director Victoria Grace, a Founding Partner of Colle Capital Partners I, an opportunistic, early stage technology venture fund. She was set to be joined by CFO Anastasia Nyrkovskaya, who currently serves as CFO of FORTUNE Media. The group's previous SPAC, Queen’s Gambit Growth Capital, completed its combination with ride-sharing startup Swvl (SWVL; -23% from $10 offer price) this past March.
Queen's Gambit Growth Capital II had planned to target businesses that provide solutions promoting sustainable development, economic growth, and prosperity, with sectors of potential interest including clean energy, healthcare, financial technology, industrials, mobility, and emerging technology
The New York, NY-based company was founded in 2021 and planned to list on the Nasdaq under the symbol QWNBU. Barclays was set to be the sole bookrunner on the deal.
