We’re pleased to unveil 7GC’s newest investment vehicle, 7GC& Co Holdings, a $230M special purpose acquisition company, which began trading on the Nasdaq [VII] on December 28th, 2020. The IPO was upsized from $175M to $230M and immediately traded up 5%, trading today at $10.55.
The order book was 4.5x oversubscribed and we were fortunate to have had our choice of high-quality institutional investors participate in the offering. We had a 100% success rate with every investor who took a 1x1 meeting during the roadshow, which included some of the largest institutional investors in the world.
Our partners in this transaction included Hennessy Capital as well as our very own Limited Partners at 7 Global Capital. Hennessy Capital is an alternative investment firm founded in 2013 by Daniel J. Hennessy. Since its founding, Hennessy Capital has been one of the leading independent SPAC sponsors, having raised, together with its managing partners, a total of 8 SPACs since 2013 aggregating over $1.8 billion of equity. Hennessy Capital’s mission is to be a strategic growth partner for founders, management, employees and shareholders.
We are honored to be complemented by a board comprised of leading venture capitalists, leading public tech executives and leadership from Hennessy Capital. In addition to the 7GC team, who represent the management team for 7GC & Co holdings, we are joined by the following experienced officers and directors:
- Tripp Jones, August Capital. Tripp has served as a General Partner of August Capital, a venture capital firm, since May 2011 and is responsible for the firm’s Special Opportunities funds.
- Patrick Eggen, Counterpart Ventures. Patrick has served as a Founding General Partner of Counterpart Ventures, an early-stage venture capital firm. Patrick previously was a Managing Director at Qualcomm Ventures where he oversaw North America investment strategy and led early-stage investments in Zoom (NASDAQ:ZM), Cruise (acquired by General Motors), and Ring (acquired by Amazon).
- Courtney Robinson, Advance Venture Partners. Courtney has served as a Founding Partner of Advance Venture Partners LLC, a growth stage venture capital firm, and is responsible for the firm’s consumer investment practice.
- Kent Schofield, Uber. Kent has served as the Financial, Planning, and Analysis team leader at Uber Technologies, Inc., or Uber (NYSE:UBER), since April 2017. Mr. Schofield also was head of investor relations in 2019, before, during, and after Uber’s initial public offering in May 2019.
- Tom Hennessy, Hennessy Capital. Tom has served as the Chairman, Co-Chief Executive Officer, and President of PropTech Acquisition Corporation, or PTAC, a special purpose acquisition company targeting businesses in the real estate technology industry.
- Joe Beck, Hennessy Capital. Joe has served as the Co-Chief Executive Officer, Chief Financial Officer and a director at PTAC since November 2019. Mr. Beck has served as the Managing Partner of Real Estate Strategies of Hennessy Capital LLC.
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