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Tishman Speyer Closes $300M IPO for Blank Check Company
Tishman Speyer’s TS Innovation Acquisitions Corp., a blank check company aimed at the proptech sector, has closed its $300-million initial public offering. The IPO reportedly makes Tishman Speyer the first major real estate player to launch a special purpose acquisition company that’s intended to combine with a proptech firm.
TS Innovations will primarily target later-stage businesses in the proptech sector that possess strong management teams, exhibit significant future growth potential and have demonstrated ability to disrupt the real estate market through technology-driven transformation.
“We believe we are well-positioned to identify diverse targets and capitalize on rising demand for new tech,” said TS Innovations’ CEO and chairman, Rob Speyer, who also serves as president and CEO of Tishman Speyer. “Our integrated real estate platform and breadth of expertise make us a great fit, especially for companies looking for a strategic partner to help guide growth and add lasting value.”
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