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
Invest in SPAC sponsor groups
Recruit first-class management teams and sponsor SPACs
Anchor attractive SPAC IPOs
Support SPAC IPOs to increase the likelihood of success
Participate in SPAC PIPEs
Provide capital in a SPAC merger to backstop against shareholder redemptions
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
Network
Utilize our relationships to increase the likelihood of SPAC success
Guide
Leverage our SPAC experience to shepherd extraordinary CEOs through the SPAC process
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
- 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
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)
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Copyright 2020, Navigation Capital Partners, Inc.