ImpactAlpha, November 16 — A new special purpose acquisition company is looking to raise $110 million to acquire and take public a company focusing on healthy consumers and smart cities.
Better World Acquisition Corp. is led by Rosemary Ripley and Peter Grubstein of sustainability-focused private equity firm N*GEN, which invests in sustainable agriculture, renewable energy and “circular product” companies, including healthy school lunch provider Revolution Foods and energy management software company Encycle.
Better World Acquisition Corp.’s targets include “healthier, cleaner, more sustainable products and ingredients,” and technologies making cities “safer, more convenient, and more comfortable,” according to its SEC filing.
SPACs are on a tear in 2020, with 80 SPACs raising $32 billion in the third quarter, and 20 more listing in October. Many have an environmental or social focus (see, “Greenhouse venture AppHarvest will reach the Nasdaq before its tomatoes reach consumers”).