# Chenghe Acquisition III Co.

Chenghe Acquisition III Co. is an Asset Manager based in Singapore, Singapore.

## Overview

- **Organization type:** Asset Manager
- **Headquarters:** Singapore, Singapore
- **Region:** Asia
- **Address:** Singapore
- **Founded:** 2024
- **Assets under management:** Undisclosed

## Regulatory record

- **Reports private funds:** No

## About

Chenghe Acquisition III Co. was incorporated in the Cayman Islands in early 2024 and filed for its initial public offering on Nasdaq the same year, with Chairman and CEO Richard Qi leading the sponsor entity, Chenghe Investment III Limited. Qi established his SPAC track record with Chenghe Acquisition I Co., which raised $115 million in its January 2022 IPO and completed a business combination with AI-driven video analytics firm Gorilla Technology Group in July 2022. The serial sponsor model places Qi among a small cohort of Asia-based operators who replicate the US-listed SPAC vehicle to access US public-market liquidity for companies that might otherwise list on regional exchanges. The firm's strategy is structured entirely around the blank-check lifecycle: raise a blind pool from investors in a Nasdaq IPO, place the proceeds in trust, and identify a single private operating company to acquire within the designated 18-to-24-month deadline — typically extended via sponsor contributions or shareholder votes. Chenghe III targets businesses at the intersection of technology, media, and financial services, with a stated geographic focus on Asia and emerging markets. Sponsor economics follow the standard SPAC structure: founder shares acquired for a nominal sum, representing roughly 20% of post-business-combination equity, diluted by public warrants and potential earn-outs. Chenghe III registered an offering size of up to $100 million in its preliminary prospectus. Qi operates alongside a small sponsor team historically composed of executives with backgrounds in China and Southeast Asia corporate finance, though the specific professionals count for the third vehicle is not public record. No adjacent philanthropic or operating vehicles are reported. Structurally, the Chenghe fleet is unusual in its pattern of sequential, same-region SPACs filed from a single sponsor group — rather than the multi-strategy platform model pursued by US serial sponsors who branch into venture, credit, or permanent-capital vehicles. Qi has not announced a transition to a permanent-capital or multi-asset manager structure. The governance reflects a sponsor-controlled redemption risk, where public shareholders vote on both the extension and the business combination itself. The fundraise-merge-repeat architecture clarifies the firm's posture: Chenghe is a dedicated deal-by-deal platform, not a diversified family-office or fund-of-funds operation.

## People

- Zhi (Richard) Qi — Chairman and CEO

## Questions

### Who runs investment decisions at Chenghe Acquisition III?

Richard Qi serves as Chairman and CEO and controls the sponsor entity. He makes the final determination on business combination targets, as is standard for SPACs where the sponsor CEO negotiates and presents a single acquisition opportunity to shareholders for approval.

### What is the relationship between Chenghe Acquisition I, II, and III?

All three are distinct blank-check companies sponsored by entities affiliated with Richard Qi. Chenghe I completed a combination with Gorilla Technology Group in 2022. Chenghe II was established as a separate vehicle with a separate trust and target search. Chenghe III is the latest iteration, filed in 2024 and still searching for a target.

### What happens if Chenghe III does not complete a business combination by the deadline?

If the sponsor cannot complete a combination — and shareholders do not approve extensions beyond the permitted timeline — the trust is liquidated and public shareholders receive their pro rata share of the IPO proceeds held in trust, plus any accrued interest. The founder shares expire worthless in that scenario.

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- [CB Financial Services](https://altss.com/profile/cb-financial-services-inc)
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Last updated: 2026-08-11T02:43:31.692Z

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