(Bloomberg) -- Technology investment firm GP Bullhound, which has financed some of Europe’s most prominent startups, is planning to list a special purpose acquisition company in Amsterdam, people with knowledge of the matter said.
GP Bullhound is working with Deutsche Bank AG on preparations for the offering, according to the people, who asked not to be identified because the information is private. It is considering seeking around 200 million euros ($228 million), the people said.
The firm could announce plans for the listing as soon as the next few weeks, the people said. Deliberations are ongoing, and details of GP Bullhound’s plans could change, the people said.
Representatives for GP Bullhound and Deutsche Bank declined to comment.
The proposed deal would join a rush of SPAC offerings in Amsterdam, which is rapidly shaping up to be the main hub for blank-check deals in Europe. Luxury-goods billionaire Bernard Arnault and former Commerzbank AG Chief Executive Officer Martin Blessing are among big-name issuers that have raised money in the Dutch capital.
Europe’s SPAC market remains much smaller than in the U.S. Blank-check firms in the region have raised about $9 billion over the past 12 months, compared with $149 billion in New York, according to data compiled by Bloomberg.
Founded in London in 1999, GP Bullhound has backed startups including streaming music provider Spotify Technology SA, fintech giant Klarna, U.K. digital lender Revolut and Spanish food-delivery service Glovo. The firm offers investment banking services alongside traditional venture capital investments.
GP Bullhound said in October it raised the maximum 300 million euros for its fifth flagship venture capital fund.
(Updates with size of SPAC market in sixth paragraph)
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