Venture investor Chamath Palihapitiya, whose huge bets on “blank check” acquisition companies earned him the moniker of “SPAC King,” said he remained bullish on the long-term health of such deals despite a recent slowdown, Reuters reports.
Palihapitiya has raised billions of dollars in the stock market through SPACs.
The recent correction, after a boom that lasted several quarters, was needed to separate the “the wheat from the chaff,” he said. Read more.
