A New Way For

SPACs

In 2017, the Managing Partners of SPAC Operations raised a SPAC, and through that process, recognized significant opportunity in SPACs. At SPAC Operations, we’re applying our knowledge and experiences to SPACs in a novel way, shepherding extraordinary CEOs through every stage of the SPAC process.

We’re the SPAC pros:

operating CEOs who know the industry inside and out

Darrell J. Mays

Managing Partner

Lawrence Mock

Managing Partner

David Panton

Managing Partner

Robert Willis

Managing Partner

The Navigation Model for SPAC investing

Rather than fee-driven, the Navigation model is equity-aligned across the SPAC life cycle to build a diversified investment portfolio

 
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Invest in SPAC sponsor groups

Recruit first-class management teams and sponsor SPACs

 
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Anchor attractive SPAC IPOs

Support SPAC IPOs to increase the likelihood of success

 
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Participate in SPAC PIPEs

Provide capital in a SPAC merger to backstop against shareholder redemptions

 
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SPAC Operations Portfolio

Build a diversified public company portfolio by investing across multiple industries and strategies

NCP’s SPAC Operations Group is pursuing a concurrent SPAC approach, turning the investment process upside down & inside out:

finding CEOs and business opportunities independent of the IPO process and sector

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Network

Utilize our relationships to increase the likelihood of SPAC success

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Guide

Leverage our SPAC experience to shepherd extraordinary CEOs through the SPAC process

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SPAC-in-a-Box Operating System

Standard SPAC templates to reduce cost and time to both IPO and business combination

Our process is intended to protect the sponsor at-risk capital and shorten the time to close a business combination by:

  • Making certain critical decisions before the SPAC IPO
  • Following strict criteria for choosing a target company

SPAC-in-a-Box

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  • SPAC Operations has close relationships with both critical third-party advisors and investors in the IPO and SPAC processes and has standard templates for executing on these processes
  • By working closely with key SPAC participants on multiple SPACs and using standard templates, we negotiate lower rates for routine processes and shorten the time for IPOs and business combination

“The SPAC-in-a-Box Operating System is the most innovative approach I’ve seen to bring equity to newly public companies to accelerate their growth.”

Jeff Sprecher, Chairman NYSE

Our Story

1996

Larry Mock and Ron Coombs form Mellon Ventures in partnership with Mellon Financial Corp, investing $1.4Bn in 140 operating companies and 70 private equity partnerships. Robert Willis sells his company Alpine Computer Systems to Delphi Group where he subsequently completes 26 tech services acquisitions as Chief Investment Officer

Larry Mock, Mellon Ventures, Navigation Capital Partners

2000

Robert Willis buys Alpine back after Delphi was sold to Adecco, and sells Alpine again to Mellon Ventures

2003

Darrell J. Mays founds nsoro, LLC a turnkey telecommunications infrastructure services company

2004

Robert Willis founds online gaming platform Gaming VC Holdings, takes the company public on the London Stock Exchange, and serves as Financial Director until 2006

2006

Larry Mock and David Panton establish Navigation Capital in partnership with Goldman Sachs to acquire the Mellon Ventures portfolio and invest in new companies. Robert Willis joins Darrell Mays at nsoro, LLC as President

2008

Darrell Mays sells nsoro to MasTec (NYSE: MTZ) in a deal architected by Robert Willis. Mays leads the MasTec Communications division for eight years, completing seven add-on acquisitions and growing revenues from less than $80 million to over $2 billion annually

2017

Pensare Acquisition Corp raises $300 million in an IPO to acquire a company in the technology, media, and telecommunications (TMT) industry with Darrell Mays as CEO, Larry Mock as Chairman, Bob Willis as President, and David Panton as Chief Strategy Officer

2019

Larry Mock, Darrell Mays, David Panton, and Robert Willis form SPAC Operations as part of Navigation Capital

2020

At the height of the COVID-19 pandemic, Pensare closed its first acquisition, Computex Technology Solutions, with a private investment in public equity (“PIPE”) led by MasTec, and changed its name to AVCtechnologies, Inc. (Nasdaq: AVCT)

AVCtechnologies, AVCT, Nasdaq