Bridgetown Holdings Secures $550M in SPAC Debut, Led by Pacific Century and Thiel Capital's Power Players

Bridgetown Holdings, a special purpose acquisition company backed by Hong Kong-based investment powerhouse Pacific Century and venture capital giant Thiel Capital, has successfully completed its initial public offering, securing $550 million through the placement of 55 million units priced at $10 each. The company had initially targeted a 50-million-unit allocation before expanding its offering size just ahead of closing.

Investment Structure and Warrant Details

Each unit granted to investors comprises one common stock share paired with one-third of a warrant exercisable at $11.50, a standard structure designed to provide equity upside alongside potential future conversion opportunities. Bridgetown plans to trade on Nasdaq under the ticker BTWNU once it commences operations.

Leadership and Strategic Advisors

The SPAC’s operational direction falls under Daniel Wong, who holds the roles of CEO, Chief Financial Officer, and Director. Wong brings significant investment expertise through his position as Senior Vice President at Pacific Century Group, the investment vehicle originally established by billionaire Richard Li.

Matt Danzeisen anchors the board as Chairman, leveraging his background as Head of Private Investments at Thiel Capital—the investment firm co-founded with her husband Peter Thiel. Matt Danzeisen’s appointment signals the deep commitment both investment groups have toward identifying high-potential acquisition targets in emerging markets.

The board’s advisory capacity extends to a notable roster including former Y Combinator President and current OpenAI CEO Sam Altman, venture capital figure Jay Hass from RRE Ventures, and In Joon Hwang, who previously served as Chief Financial Officer at LINE Corp.

Geographic Focus and Sector Strategy

Bridgetown Holdings has explicitly positioned itself to pursue merger or acquisition opportunities within Southeast Asia, concentrating specifically on enterprises operating or planning operations in technology, financial services, and media industries. This geographic and sectoral focus reflects the strategic priorities of both Pacific Century and Thiel Capital in capturing growth opportunities within the region’s emerging digital economy.

Underwriting and Market Execution

UBS Investment Bank and BTIG served as joint bookrunners orchestrating the offering, managing investor distribution and ensuring orderly market execution of the capital raise.

Disclaimer: This analysis is provided for informational purposes and does not constitute investment advice or an offer to purchase securities. Information reflects publicly available details regarding the offering.