Khosla Ventures launches fourth SPAC, to raise $200 mln via U.S. IPO

Nextdoor Holdings

23/02/2021 12:36

Feb 23 (Reuters) - A blank-check firm, backed by prominent
venture capitalist Vinod Khosla's eponymous investment fund, is
looking to raise $200 million through an initial public
offering, a regulatory filing showed on Tuesday. 
    Khosla Ventures Acquisition Co IV, a special purpose
acquisition company (SPAC), plans to raise the funds by listing
on the Nasdaq Capital Market. 
    The SPAC is sponsored by an affiliate of Khosla Ventures, a
venture capital firm founded in 2004 by Sun Microsystems
co-founder Khosla. 
    Khosla Ventures has invested in numerous high-profile
companies such as DoorDash Inc  DASH.N , Opendoor Technologies
Inc  OPEN.O  and Affirm Holdings Inc  AFRM.O , all of which went
public last year. 
    Earlier this month, Khosla Ventures launched three other
blank-check firms that are aiming to raise as much as $1.2
billion collectively.  urn:newsml:reuters.com:*:nFWN2KI1PR  urn:newsml:reuters.com:*:nFWN2KI1AL
    The launch of Khosla's fourth SPAC comes at a time when
numerous big-name investors, including Bill Ackman, Reid Hoffman
and Chamath Palihapitiya, are betting big on the current SPAC
frenzy.
    SPACs are shell companies that raise money through an IPO to
take a private company public. They serve as an alternative for
companies looking to enter public markets as SPACs allow them to
sidestep a traditional IPO and the hassles attached to it.  
    Goldman Sachs and Piper Sandler are the lead underwriters
for Khosla's latest offering. 

 (Reporting by Sohini Podder in Bengaluru; Editing by Aditya
Soni)
 ((sohini.podder@thomsonreuters.com;))