
Big news for all you SPAC-heads (yes, we’re coining this term) out in the Middle East — UAE-based Arrow Capital has co-sponsored a new tech SPAC called Tribe Capital Growth Corp I, which raised $240m in its Nasdaq IPO. Arrow Capital’s partner-in-SPAC is American venture capital firm Tribe Capital.
This deal is major for investors in the MENA region as it will give them greater and direct access to the Silicon Valley tech market. This will likely also encourage more companies to join in on the SPAC party one way or another.