Aura FAT Projects Acquisition, a Singapore special purpose acquisition company (SPAC), said it had raised $115 million to invest in emerging technology start-ups in Southeast Asia and Australasia.
Aura FAT is a blank cheque entity incorporated in the Cayman Islands.
The SPAC plans to invest in Web3, blockchain, cryptocurrency, digital ledger, e-gaming and other new financial technology and services industries.
It is headquartered in Singapore and has offices in Sydney, Melbourne, Manila and Ho Chi Minh City.
EF Hutton, a division of Benchmark Investments, acted as the sole book running manager for the SPAC’s initial public offering on the Nasdaq.
“Southeast Asian economies are among some of the fastest growing in the world, with several at the forefront of the digital revolution,” Calvin Ng, an Aura FAT cofounder, said.
“This is predominantly why [we] search for a target acquisition in this region.”