In this article, we discuss the top 5 SPACs to buy according to Richard Gerson’s Falcon Edge Capital. If you want to read our detailed analysis of Falcon Edge Capital’s history, investment philosophy, and hedge fund performance, go directly to the Top 10 SPACs to Buy According to Richard Gerson’s Falcon Edge Capital.
5. Soaring Eagle Acquisition Corp. (NASDAQ:SRNG)
Falcon Edge Capital’s Stake Value: $40.112 million
Percent of Falcon Edge Capital’s Portfolio: 2.56%
Number of Hedge Fund Holders: N/A
Soaring Eagle Acquisition Corp. (NASDAQ:SRNG) is a special purpose acquisition company incorporated in Caymen Island. It was founded by Harry E. Solan, Jeff Sagansky, and Eli Baker. In May 2021, Soaring Eagle Acquisition Corp. (NASDAQ:SRNG) announced to merge its business with Ginkgo Bioworks. After the merger, the new entity resulted in Ginkgo Bioworks Holdings, Inc. and listed under ticker symbol “DNA” on New York Stock Exchange.
Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) is based in Boston and provides services in the healthcare industry. The company develops a platform for cell programming, genetic modification, innovative therapeutics, and food ingredients.
4. Pioneer Merger Corp. (NASDAQ:PACXU)
Falcon Edge Capital’s Stake Value: $44.099 million
Percent of Falcon Edge Capital’s Portfolio: 2.81%
Number of Hedge Fund Holders: N/A
Pioneer Merger Corp. (NASDAQ:PACXU) is incorporated in Cayman Islands and works as a special purpose acquisition company for affecting a merger, asset acquisition, share purchase, and reorganization. The Chairman of the company is Jonathan Christodoro, and the CEO of Pioneer Merger Corp. (NASDAQ:PACXU) is Ryan Khoury. The company is sponsored by Patriot Global Management and an affiliate of Falcon Edge Capital.
Pioneer Merger Corp. (NASDAQ:PACXU) went public on January 07, 2021, and raised around $402 million by offering IPO. The company aims to acquire businesses with rapid growth potential. On May 27, 2021, the company signed a definitive agreement to merge with Acorns Grow Inc. in the second half of 2021.
Acorns Grow Inc. provides services in the fintech and investment industry and has more than 4 million customers on its mobile application, which are projected to increase to 10 million by 2025. Acorns Grow Inc. generated revenue of $71 million in 2020, increasing from $44 million the last year. Upon merger, the entity will go public with a value of around $2.2 billion.
As of the second quarter of 2021, Falcon Edge Capital holds 4.5 million shares of the company worth $44.099 million. Pioneer Merger Corp. (NASDAQ:PACXU) represents 2.81% of Falcon Edge Capital’s portfolio of 13F securities. With this, Pioneer Merger Corp. (NASDAQ:PACXU) ranks fourth on our list of top 10 SPACs to buy according to Richard Gerson’s Falcon Edge Capital.
3. TPG Pace Tech Opportunities Corp. (NYSE:PACE)
Falcon Edge Capital’s Stake Value: $44.201 million
Percent of Falcon Edge Capital’s Portfolio: 2.82%
Number of Hedge Fund Holders: 31
TPG Pace Tech Opportunities Corp (NYSE:PACE) is one of many special purpose acquisition companies of TPG. The parent group TPG operates worldwide with offices in Beijing, Hong Kong, London, Fort Worth, and Luxemburg. TPG has more than $96 billion of assets under its management.
TPG Pace Tech Opportunities Corp (NYSE:PACE) went public in October 2020, raising around $450 million. TPG Pace Tech Opportunities Corp (NYSE:PACE) is focused on acquiring businesses in the tech industry.
On January 29, 2021, TPG Pace Tech Opportunities Corp (NYSE:PACE) signed a definitive agreement to acquire Nerdy Inc. On September 20, 2021, the business combination closed and the new entity began to trade as Nerdy Inc. (NYSE:NRDY). Nerdy Inc. (NYSE:NRDY) is an online learning platform with a curated gig economy. Founded in 2018, the platform acts as a platform to connect tutors to students.
As of the second quarter of 2021, Falcon Edge Capital has 4.45 million shares, valued at $44.201 million. TPG Pace Tech Opportunities Corp (NYSE:PACE) accounts for 2.82% of the 13F portfolio of Richard Gerson’s Falcon Edge Capital. With this, TPG Pace Tech Opportunities Corp (NYSE:PACE) ranks third on our list of top 10 SPACs to buy according to Richard Gerson’s Falcon Edge Capital.
2. Equity Distribution Acquisition Corp. (NYSE:EQD)
Falcon Edge Capital’s Stake Value: $106 million
Percent of Falcon Edge Capital’s Portfolio: 11.52%
Number of Hedge Fund Holders: 62
Equity Distribution Acquisition (NYSE:EQD) was founded by Bill Galvin and Sam Zell and is focused on finding targets based in North America and operating in the industrial sector.
Equity Distribution Acquisition (NYSE:EQD) went public on September 16, 2020. Equity Distribution Acquisition (NYSE:EQD) is a medium-cap company with a market capitalization of $508.7 million. The company is still searching for target businesses with technology-based industrial solutions.
As of the second quarter of 2021, Falcon Edge Capital holds 5.34 million shares in Equity Distribution Acquisition (NYSE:EQD) valued at $52.652 million. These shares account for 3.36% of the 13F holdings of Falcon Edge Capital. With this, Equity Distribution Acquisition (NYSE:EQD) ranks second on our list of top 10 SPACs to buy according to Richard Gerson’s Falcon Edge Capital.
According to the database of Insider Monkey tracking 873 hedge funds in Q2 2021, 33 have stakes in Equity Distribution Acquisition (NYSE:EQD), worth $205.4 million. This number has increased from 32 in the Q1 of 2021, worth $215 million.
1. Avanti Acquisition Corp. (NYSE:AVAN)
Falcon Edge Capital’s Stake Value: $69.836 million
Percent of Falcon Edge Capital’s Portfolio: 4.46%
Number of Hedge Fund Holders: 30
Avanti Acquisition Corp. (NYSE:AVAN) is incorporated in Caymen Islands and functions as a special purpose acquisition company. The company intends to affect a merger, asset acquisition, share exchange, stock purchase, and reorganization.
Avanti Acquisition Corp. (NYSE:AVAN) went public in October 2020 and raised $600 million from the initial public offering. The company has posted a net income of $1.263 million for Q2 2021. With its focus on family- and founder-led startups based in Europe, Avanti Acquisition Corp. (NYSE:AVAN) aims to acquire businesses having strong US nexus and global reach.
As of the second quarter of 2021, Falcon Edge Capital holds 7.2 million shares worth $69.836 million in the company, making Avanti Acquisition Corp. (NYSE:AVAN) the first on our list of top 10 SPACs to buy according to Richard Gerson’s Falcon Edge Capital. These shares account for 4.46% of the hedge fund’s 13F holdings. With this, Avanti Acquisition Corp. (NYSE:AVAN) ranks first on our list of top 10 SPACs to buy according to Richard Gerson’s Falcon Edge Capital.
According to the database of Insider Monkey tracking 873 hedge funds in Q2 2021, 30 funds have stakes in Avanti Acquisition Corp. (NYSE:AVAN), worth $335 million.
You can also take a peek at Top 10 Stocks to Buy According to Charles Pollnow’s Triple Frond Partners and 10 Best Safe Dividend Stocks According to Billionaire Dan Loeb.
