NEW YORK - Yorkville International Capital Corp., an investment firm has launched a special purpose acquisition company seeking to raise $200mn for potential business operations in Venezuela, underscoring growing interest in the country’s changing economic environment, as reported by The Financial Times´ George Steer.
According to documents filed with regulators, a subsidiary of Yorkville said it believes companies across the region, “including Venezuela,” are approaching a period in which significant capital investment and modernisation will be necessary after years of underinvestment. The filing also pointed to expectations of improving macroeconomic and business conditions.
Yorkville Capital is run by Mountainside, New Jersey-based Yorkville Advisors, presided by Mark Angelo. The Spac´s CEO is Kevin McGurn, appointed last month as interim CEO of Trump Media & Technology Group, the Trump family media company that owns Truth Social and which in December agreed to merge with a Google-backed fusion energy company.
SPACs are investment vehicles established to raise capital in public markets before acquiring an existing company, allowing firms to bypass the conventional route of an initial public offering.
