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Crypto exchange Bakkt to go public in $2.1B SPAC deal
January 12, 2021
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Bakkt
, the cryptocurrency exchange launched by
Intercontinental Exchange
in 2018, has agreed to a reverse merger with a SPAC and will go public. The deal with the SPAC, backed by
Victory Park Capital
, values Bakkt at $2.1 billion. The startup raised $482.5 million from investors that include
Microsoft
's venture arm,
M12
,
Starbucks
and
SoftBank
-owned
Fortress Investment Group
.
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Tags:
Private Equity,
Venture Capital
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