Asia Hedge Funds Join SPAC Craze in Race to Back Next Grab
- Sylebra pumps $580 million into SPAC-linked private placements
- Aspex, Snow Lake and Dymon are also investing in such deals
This article is for subscribers only.
Asia-based hedge fund managers including Sylebra Capital Ltd. and Aspex Management are joining the SPAC boom, seeking large stakes in companies that could emerge as the next Grab Holdings Inc.
The two firms, along with Snow Lake Capital and Dymon Asia Capital, have pumped hundreds of millions of dollars in the past few months into private placements that help finance SPAC deals. The funds are eyeing big positions in what they’re betting will be future giants in industries ranging from plastic recycling to renewable energy storage.