Maybe the real question is, who isn’t raising a blank check company?
Former U.S. Secretary of Commerce under President Donald Trump, Wilbur Ross, is backing a blank check company that is seeking to raise some $300 million. While Ross will be CEO, former Director of the National Economic Council Larry Kudlow will serve as director.
Dubbed Ross Acquisition II, the special purpose acquisition company is seeking to acquire a company that does most of its business in North America, Europe, or Asia.
While the SPAC is open to investing in all sectors, it did pinpoint a handful of areas where it’s hoping to begin:
- Automotive: Electric vehicles and autonomous vehicles
- Energy: Storage, renewables and energy efficiency
- Manufacturing: Automation/robotics, artificial intelligence, big data analytics, 3D printing and smart factory
- Materials: Chemicals, advanced materials and sustainable materials
- Transportation: Data analytics, digital trade and alternative fuels
- Space: Remote sensing