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FirstMark Horizon Acquisition Corp.
FirstMark Horizon Acquisition Corp. is a SPAC with offices in New York, Boston, and Denver, sponsored by venture capital firm FirstMark Capital.
FirstMark Horizon Acquisition Corp.
Founded as a blank-check company, FirstMark Horizon Acquisition Corp. raised $350 million in its 2021 IPO, per SEC filings. The SPAC structure allows it to acquire a private company and take it public through a merger. Targeting the technology sector, the firm's sponsor, FirstMark Capital, is a venture capital firm with a track record of investments in companies like Pinterest and Shopify. The firm's strategy centers on identifying a high-growth technology business for a business combination, leveraging the expertise of its sponsor. The geographic focus includes the United States, with offices in New York, Boston, and Denver. The SPAC had $300 million in trust and a $50 million over-allotment option, per the registration statement. As of 2023, the SPAC had not completed a merger, and its trust was liquidated in 2024 per public filings. The team size and key executives are not publicly detailed beyond the sponsor affiliation. FirstMark Horizon's structure as a SPAC tied to a traditional VC firm is distinctive, aligning the public markets with early-stage technology expertise. Its failure to consummate a deal by the deadline highlights the risks inherent in SPAC investing. The liquidation of the trust in 2024 effectively ended the entity.
General information
Firm type
Asset Manager
Year founded
—
AUM
Undisclosed
Location
Region
North America
Country
United States
City
New York
Corporate office
New York, NY, United States
Additional offices
Boston · Denver
Frequently asked questions
What is FirstMark Horizon Acquisition Corp. and how is it structured?
FirstMark Horizon Acquisition Corp. is a special purpose acquisition company (SPAC) formed to acquire a technology or technology-enabled business through a merger. It raised $350 million in its IPO in 2021, as disclosed in SEC filings. The SPAC is sponsored by FirstMark Capital, a venture capital firm.
Did FirstMark Horizon Acquisition Corp. complete a merger?
No, the SPAC did not consummate a business combination before its deadline. In July 2024, the trust was liquidated and capital returned to shareholders, per public filings. This outcome is consistent with the risks of SPAC investing.
How is FirstMark Horizon Acquisition Corp. related to FirstMark Capital?
FirstMark Capital is the sponsor of FirstMark Horizon Acquisition Corp. FirstMark Capital is a venture capital firm known for investments in companies like Pinterest and Shopify. The SPAC was designed to leverage FirstMark's technology expertise for a business combination.
What was the investment mandate of FirstMark Horizon Acquisition Corp.?
The SPAC's mandate was to acquire a technology or technology-enabled business with high growth potential. The target was not specified, and the firm did not announce a definitive agreement before the deadline. Offices were located in New York, Boston, and Denver.
What happened to the capital raised by FirstMark Horizon Acquisition Corp.?
Upon liquidation of the trust in July 2024, the capital—originally $350 million from the IPO—was returned to shareholders. This process is standard for SPACs that fail to complete a merger. The SPAC did not invest in any operating business.
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