Oliver Samwer is in Spac fever

Rocket Internet's Oliver Samwer only floated his first Spac on the stock exchange in March and is already planning three more IPOs. The takeovers are likely to target companies on the European market.

Just six weeks ago, Oliver Samwer floated his first Spac on the New York Stock Exchange with Rocket Internet Growth Opportunities, and now three new special purpose acquisition companies are already planned, according to start-up scene reports. Their names are easy to remember: European Growth Opportunities Spac 1, 2 and 3. Samwer is presumably looking for potential companies to take over in Europe.

Samwer registered Spacs in Luxembourg at the end of April, according to Gründerszene. Samwer is joined on the board by colleagues from Rocket Internet: Board member Soheil Mirpour and Vice President Arnd Lodowicks, for example. Samwer has also brought in former Rocket Internet legal advisor Julien De Mayer.

Samwer was able to raise €210 million from investors with his space on the New York Stock Exchange, but has apparently not yet found a suitable company from the tech sector to take over.

The trend of setting up a Spac spilled over from America to Germany last year and is very popular among investors here. Currently, two venture capitalists, Lakestar and 468 Capital, have listed a Spac on the Frankfurt Stock Exchange, and other investors are planning an IPO. However, shell companies are also controversial, partly because the companies acquired are far less controlled than in a traditional IPO.