PitchBook, the premier data provider for the private and public equity markets, released a product update making its comprehensive datasets on Special Purpose Acquisition Companies (SPACs) more discoverable within the PitchBook Platform. SPAC IPO activity exploded in 2021, with aggregate capital raised already surpassing the total in 2020 by 19.8% after the first quarter. As activity in the SPAC market continues, investors and service providers need to be able to follow the flow of capital from a sponsor-backed SPAC’s IPO to the private company with which it eventually merges. This new update allows clients to discover thousands of SPACs and filter for industry preferences, IPOs, sponsors and de-SPACing events.
“At PitchBook, we strive to equip our clients with the most comprehensive, accurate, and timely data possible. Our recent expansion of PitchBook’s SPAC dataset and the simplification of how clients can access and analyze this information is the latest embodiment of this goal,” said Ben Woletz, Product Manager at PitchBook. “Users can now explore complete coverage of the SPAC universe, including SPAC industry focus, IPO details, financial sponsors, date of incorporation, M&A activity, and more.”
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Within the PitchBook Platform, clients can leverage new search criterion when conducting both ‘companies & deals’ and ‘investors & buyers’ advanced searches to discover SPACs by industry code and investor type. Additionally, there is a SPAC Analyst Curated Workspace that is consistently updated with new searches and analytical content from the PitchBook Institutional Research Group. The latest analysis is a Q1 2021 SPAC Market Update, which leverages PitchBook’s SPAC datasets to provide a full picture on the entire market’s scale. All relevant research will be tagged to the Workspace and accessible to clients.
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“The explosion of SPACs over the last 15 months is likely to have mixed results on the late-stage investment market. SPACs can serve as another route to liquidity for VC backers, but they also have the potential to drive up late-stage pricing since SPACs combinations compete directly with the late-stage VC market,” said Cameron Stanfill, Lead VC Analyst at PitchBook. “It’s unlikely the SPAC market will remain as active as it was in Q1 2021, but we expect SPAC acquisition activity to continue gaining momentum until at least the end of 2022.”
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