Tribe Capital Growth I in a regulatory filing said Tribe Capital Markets withdrew as a member of the SPAC’s sponsor, Tribe Arrow Holdings I, effective June 1.
Members holding a majority of the membership interest in the sponsor appointed Arrow Multi Asset Fund – Arrow SP6 as the managing member. Tribe and Arrow will work cooperatively to transition management and operations to Arrow and its affiliates.
“We anticipate the transition will result in changes to how and where we source, as well as underwrite, potential business combination targets,” the filing states.
No reason was given.
The SPAC also said certain officers and directors are anticipated to resign, including CEO Arjun Sethi, a co-founder of Tribe Capital Management.
Tech-focused Tribe Capital Growth I raised $240 million in a March 2021 IPO. Read more.
