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Bridgetown SPAC, Backed by Peter Thiel, Files to Go Public

Lizette Chapman

(Bloomberg) -- Billionaires Peter Thiel and Richard Li have created a SPAC targeting “new economy” technology, financial services and media companies in Southeast Asia.

In a Wednesday filing with the Securities and Exchange Commission, Bridgetown Holdings Ltd. described itself as “a blank check company” created to recombine businesses through purchases, reorganizations and other means. It is seeking to raise $575 million.

The group’s sponsor, Bridgetown LLC is a collaboration between Thiel Capital, Thiel’s personal investment vehicle based in Los Angeles, and Pacific Century, an investment group founded by Li.

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