Former NFL quarterback Colin Kaepernick announced on Tuesday that he has set up a blank check company to raise $ 250 million in a stock market.
Why it matters: Kaepernick has not played pro football since 2016, but has remained a cultural lightning rod – loved or hated for his social activism, including his strong support for the Black Lives Matters movement.
Details: The SPAC is called Mission Advancement Corp., and is designed to acquire a company on ‘the intersection of consumer and impact.’
- Kaepernick is the co-chair and co-sponsor of the SPAC and works in partnership with the venture capital firm The Najafi Companies.
- Directors include Attica Jaques, Google’s head of brand marketing, and Katia Beauchamp, co-founder and CEO of Birchbox.