Gaw Capital Advisors is considering raising at least $200 million through a special purpose acquisition company in the U.S., according to people familiar with the matter.
The buyout firm plans to set its sights on technology firms in Asia for targets of the proposed blank-check company, said the people, who asked not to be identified as the information is private. Deliberations are at an early stage and details including size and strategy could still change, the people said.
A representative for Gaw Capital declined to comment.
Gaw Capital would join other private equity firms including KKR & Co. and Warburg Pincus in tapping the red-hot SPAC market to fund their acquisitions.
A blank-check company is a shell company that raises money from public investors with the goal of acquiring a business within two years. These deals have raised more than $53 billion in the U.S. alone just this year, according to data compiled by Bloomberg.