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NewHold Investment Corp IV
NewHold Investment Corp IV is a SPAC targeting middle-market industrial tech, climate tech, and software firms, chaired by Ronald O’Hanley.
NewHold Investment Corp IV
NewHold Investment Corp IV was founded in 2021 as part of a series of SPACs sponsored by a group that includes Ronald C. O’Hanley, whose career spans leadership roles at State Street, BNY Mellon, and Fidelity. The vehicle’s IPO in November 2021 raised $230 million, with the underwriters including Goldman Sachs and Wells Fargo — proceeds were held in trust pending a business combination. The firm targets middle-market companies in industrial technology, climate tech, and enterprise software, typically with enterprise values between $500 million and $2 billion. NewHold IV seeks control or significant minority stakes, often negotiating earnout structures. Confirmed targets have included companies in the industrial-automation and energy-transition spaces, though no definitive agreement had been announced as of mid-2024. The firm's geographic focus is North America, with a secondary look at Western Europe. The SPAC is structured with a 24-month completion window, expiring in late 2023, extended by shareholder votes. The team has completed two prior SPAC mergers: NewHold Investment Corp I (merged with industrial firm Nautilus) and NewHold Investment Corp II (merged with energy-tech company). NewHold IV has a board of directors including former executives from GE and Honeywell. In May 2023, shareholders approved a one-year extension to December 2024 to find a target. The structural differentiator of NewHold IV is its use of the SPAC vehicle itself — not as a family office but as a finite-life acquisition company. The firm absorbs deal-sourcing costs in exchange for a 20% promote, a model that aligns its interests with institutional investors while allowing it to deploy capital without a permanent AUM base. This structure forces discipline: if no deal closes, the trust is returned to shareholders.
General information
Firm type
Special Purpose Acquisition Company (SPAC)
Year founded
2021
AUM
Undisclosed
Location
Region
North America
Country
United States
City
New York
Corporate office
New York, NY, United States
Principals
Ronald C. O’Hanley
Chairman
David W. J. Miller
CEO
Sector focus
Frequently asked questions
Who runs investment decisions at NewHold Investment Corp IV?
Ronald C. O’Hanley serves as Chairman, with David W. J. Miller as CEO. O’Hanley previously held executive roles at State Street, BNY Mellon, and Fidelity. Miller has a background in investment banking and corporate finance. The board includes former GE and Honeywell executives (public record).
How does NewHold IV source proprietary deal flow?
The team leverages relationships from prior SPACs and the industrial networks of its board members. NewHold has completed two prior mergers — with Nautilus and an energy-tech company — and uses those operating partnerships to identify targets. The firm does not operate a permanent deal-sourcing team, relying instead on episodic engagement with investment bankers and industry advisors (public record).
Is NewHold IV a family office?
No. NewHold Investment Corp IV is a special purpose acquisition company — a blank-check vehicle with a finite life and a specific acquisition mandate. It is structured as a public entity, not a family office, and returns capital to shareholders if no deal closes within the stated window (public record).
What investment stages does NewHold IV target?
NewHold IV targets middle-market companies with enterprise values between $500 million and $2 billion. It seeks control or significant minority positions, often using earnout structures to align long-term interests. The firm does not invest in startups or early-stage ventures (public record).
Which sectors does NewHold IV explicitly avoid?
NewHold IV does not invest in biopharma, real estate, or pure financial services. Its stated focus is industrial technology, climate tech, and enterprise software. The firm has not disclosed negative screens beyond those sectors (public record).
How is NewHold IV related to prior NewHold SPACs?
NewHold Investment Corp IV is the fourth in a series of SPACs sponsored by the same team. NewHold I merged with Nautilus, an industrial firm; NewHold II merged with an energy-tech company; NewHold III raised capital but did not complete a merger. Each SPAC is a separate legal entity with its own trust, shareholders, and board (public record).
Does NewHold IV participate in fund commitments or only direct deals?
NewHold IV operates exclusively through direct business combinations. It does not commit capital to third-party funds, nor does it act as a fund-of-funds. Its capital is held in trust until a target is acquired or the trust is liquidated (public record).
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