What Company Is Kaepernick’s SPAC Business Looking to Buy?
Kaepernick’s SPAC business, dubbed Mission Advancement Corp., includes other members, such as Attica Jaques, Google's head of global brand marketing, and Katia Beauchamp, co-founder and CEO of Birchbox. However, it’s unclear whether or not they have a company to purchase in mind.
What is clear is that, with Kaepernick on board, the company will likely focus on advancing social causes through business. In the SEC filing for the SPAC business, which is moving forward with the collaboration of venture capital firm The Nafaji Companies, the company says that its mission is to “identify, acquire and advance a company with the aim of creating meaningful financial and societal value.”
What’s more, the filing of the SPAC business states that the company is raising $250 million for its start and has its eyes on a $1 billion company. For a business with a socially conscious edge, Kaepernick’s SPAC could be a golden ticket.
The Activism of Colin Kaepernick and Its Place in the Company
Kaepernick has been involved in several high-profile advertising and business ventures with companies as large as Nike and Disney. He has a knack for starting conversations, and business seems to be where he’s focusing his energy after football.
This activism, combined with his business acumen, was a selling point for his partners according to the filing.
“We believe this access to [industry business leaders] will be a meaningful advantage to successfully source attractive deals, provide valuable perspective during diligence and create differentiated value post business combination[s],” the company wrote. “We believe that with Mr. Kaepernick as a long-term Director and brand ambassador, our combined network will be especially helpful to support the recruitment of world-class partners and investors and securing service providers and experts to accelerate the growth of our target company.”
It’s a good time for Kaepernick to get into a SPAC deal and business in general. The market is working to rebound from the impact of the coronavirus pandemic on the economy, and the 194 traditional IPO deals made in 2020 raised $67 billion in total, according to Renaissance Capital.
It all bodes well for Kaepernick. This is another opportunity for him to shape the conversation around the things that matter most to him. Perhaps business will be just the place to do it.
About the Author
Elijah Labby is a graduate of the National Journalism Center. He has previously written for Broadband Breakfast, a technology and internet policy website.