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Climate Transition Capital launches $226 million SPAC

By Reuters

LONDON – Investment platform Climate Transition Capital said on Tuesday it will launch a 190 million euro ($226 million) Special Purpose Acquisition Company (SPAC) aimed at investing in companies that are “pioneering” climate transition.

The company has already attracted investment from BlackRock, the world’s largest asset manager, and commodities trader Hartree, it said.

SPACs raise funds to acquire a private company and take it public, and are the latest global craze in fundraising with record amounts funnelled to SPACs in the last two years.

($1 = 0.8405 euros)