Tech entrepreneur raises £130m for acquisition vehicle as SPAC craze hits London
Tech entrepreneur Vin Murria is set to announce she has raised £130m for a London-listed acquisition vehicle to pursue a takeover in the software industry as the interest in “blank cheque” companies booms.
Murria, who became chairman of Marwyn Acquisition Company 1 (Mac 1) last year, is expected to announce the fundraise tomorrow in what is expected to be the biggest amount raised by a cash shell in London, Sky News reported.
The takeover target has not yet been identified, but it is expected to be in the software industry and the broadcaster said Murria is interested in a privately held company that is ready to become traded on a stock market.
Mac1 is expected to be renamed AdvanceAdvT Limited and Gavin Hugill, a former colleague of Murria’s, and Karen Chandler, finance chief of Advetec Group, will join the board as non-executive directors.
Mac1 was established by Marwyn, a cash shell creator and the vehicle behind the takeover of companies such as Entertainment One and BCA Marketplace.
Advance Adv T is expected to focus on international opportunities and Summerway Capital – another London-listed shell that Murria recently joined – will target UK-based takeovers.
Murria previously partnered with Marwyn at ACS, where she led the company from a £12m valuation to a £750m sale seven years later.