Deals
SPACs Flood Spotify Venture Capitalist With Offers That He’s Rejecting
- Northzone’s Parson says SPAC model ‘not very interesting’
- Spotify seed investor airs doubts over blank-check construct
Par-Jorgen Parson
Photographer: Horacio Villalobos/Corbis/Getty ImagesThis article is for subscribers only.
The Swedish venture capitalist who over a decade ago ignored the skeptics and backed Spotify is now voicing skepticism toward blank check companies as he gets inundated by bids.
Northzone’s Par-Jorgen Parson says he’s “been getting calls from many SPACs from all over the world wanting to buy our portfolio companies.” But as a model, the special purpose acquisition company “is not very interesting” for Northzone, he said in an interview from Stockholm.