One-time ‘SPAC King’ Palihapitiya launches new blank-check vehicle with plan to ‘temper’ retail fervor

Key Points

Chamath Palihapitiya has launched a $345 million SPAC that he said was more than five times oversubscribed.
The vehicle is designed to target companies in AI, energy, defense and decentralized finance.
Palihapitiya once helped ignited the SPAC boom in 2020, but his first wave of deals mostly ended poorly for retail investors who followed along.
The investor said he wants to temper retail investors’ involvement with his SPACs this time.

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