<article>Shanghai-headquartered investment bank ARC Group has launched a $20 million opportunity fund to invest in sponsors seeking to create new special purpose acquisition companies (SPACs).</article>

Shanghai-headquartered investment bank ARC Group has launched a $20 million opportunity fund to invest in sponsors seeking to create new special purpose acquisition companies (SPACs).
An open-ended vehicle, the fund will be open to subscriptions every quarter, ARC Group managing director Chittransh Verma said.
The SPAC opportunity fund has made its first close at $12 million. &#8220;We will target to close it at $20 million by mid-December,&#8221; Verma said.
The fund will invest in up to 10-15 selected SPACs, with a time frame of three years from the investment until exit.
&#8220;We have seen typical private equity and venture capital funds that have long horizons, and have given returns higher than the public market. We have brought the liquidity of public markets, an opportunity to invest with accredited investors and to participate and invest alongside top sponsor teams with returns of private markets, in our opportunity fund, which has a period of three years,” ARC Group chief executive officer Abraham Cinta said in a statement.
ARC offers a range of investment banking and advisory services including IPOs, equity and debt financing, private equity banking, and PIPEs. It has been the lead financial advisor for 30 SPAC transactions.
It has offices in Shanghai, Wuhan, Jakarta, and Singapore, according to its website.

The fund will invest in up to 10-15 selected SPACs, with a time frame of three years from the investment until exit.

ARC Group launches SPAC opportunity fund, announces first close

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief

ARC Group launches SPAC opportunity fund, announces first close

Continue reading this premium story with a subscription to DealStreetAsia.

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief