# Digital Asset Acquisition Corp.

Digital Asset Acquisition Corp. is an Asset Manager based in New York, United States.

## Overview

- **Organization type:** Asset Manager
- **Headquarters:** New York, United States
- **Region:** North America
- **Address:** New York, NY, United States
- **Founded:** 2021
- **Assets under management:** Undisclosed
- **Website:** digitalassetacquisitioncorp.com

## Regulatory record

- **Reports private funds:** No

## About

Digital Asset Acquisition Corp. was incorporated in March 2021 with Scott Wagner as Chief Executive Officer and former GoDaddy general counsel Christine Jones as Chief Legal Officer. Wagner carried a specific operational pedigree into the vehicle: he had run GoDaddy through its own maturity into a public company, and previously held a seat on the board of KKR. The SPAC priced its initial public offering raising $300 million in October 2021, listing on the Nasdaq under the ticker DAAC, with the stated mandate to pursue a business in financial services, technology, or digital assets. The SPAC's investment committee narrowed its hunt to companies where software infrastructure meets blockchain-based financial services. Wagner told Axios in 2022 that the firm was looking for a business on the "bleeding edge of digital assets and fintech" that could generate real revenue, not speculative tokenomics. The vehicle can deploy capital through a traditional de-SPAC merger, taking a private company public while injecting up to $300 million of fresh balance-sheet capital. The target's reported geographic footprint would depend entirely on the acquired firm, but the SPAC's registration statement indicated an unrestricted global mandate, with Wagner's prior experience spanning North America and Asia-Pacific markets. Wagner assembled a board that included Michael O'Grady, the CEO of Northern Trust, and Steve Harrick, a general partner at Institutional Venture Partners, giving the SPAC both custody-infrastructure knowledge and late-stage venture credibility. The group operated with a hard deadline of April 2023 to complete a merger or return the trust to shareholders. Wagner did not load the SPAC with a forward purchase agreement or additional committed capital beyond the IPO proceeds, making the vehicle's firepower the standard $300 million raised in trust. Digital Asset Acquisition Corp. is structurally distinct from the surge of crypto-native investment DAOs that launched in 2021 because it operates as an SEC-registered blank-check company with fiduciary duties to public shareholders. That regulatory posture forces transparency and a shareholder vote before any deal closes, creating an unusual hybrid: a liquid, publicly traded vehicle with a concentrated mandate to acquire and scale a private enterprise at the messy boundary of TradFi and DeFi.

## Sectors

- FinTech
- Enterprise Software
- AI/ML
- Cybersecurity
- Digital Assets & DeFi

## People

- Scott Wagner — Chief Executive Officer and Director

## Questions

### Who runs investment decisions at Digital Asset Acquisition Corp.?

Scott Wagner, the former CEO of GoDaddy, serves as CEO and makes the final acquisition determination alongside the board of directors. Wagner is joined by Christine Jones as Chief Legal Officer. The board includes Northern Trust CEO Michael O'Grady and IVP general partner Steve Harrick, both of whom bring specific operational and venture expertise to deal evaluation.

### How is this SPAC different from a crypto venture fund?

Digital Asset Acquisition Corp. is a publicly traded blank-check company, not a closed-end venture fund. It raised $300 million in an IPO with a two-year deadline to merge with a single target company or return the capital. Unlike a venture fund that charges management fees and calls capital over time, the SPAC's cash sits in a trust account earning interest, and shareholders vote on any proposed merger before it closes.

### What type of target is Digital Asset Acquisition Corp. seeking?

Scott Wagner has publicly stated the SPAC is targeting a revenue-generating company at the intersection of enterprise software and digital assets, specifically in financial services infrastructure, blockchain-based payments, or institutional crypto technology. He told Axios in 2022 that the ideal target avoids speculative token models and instead solves real financial plumbing problems using blockchain infrastructure.

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Last updated: 2026-06-03T20:00:00.000Z

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