A US$230 million blank check company, with US$55 million forward purchase commitment, pursuing a business combination target. We intend to focus on technology businesses with disruptive growth potential based in Asia.
Large Total Addressable Market
Market Leadership with Sustainable Competitive Advantage
Experienced and Motivated Management Team
High Revenue and Earnings Growth Potential
Attractive Unit Economics
Significant Expansion Plan
We are a blank check company incorporated in Cayman Islands as an exempted company for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses.
We intend to focus on technology businesses with disruptive growth potential based in Asia, although we may pursue a business combination target in any business or industry. We believe our management team, advisory board members and board of directors have the relevant skills and experience to identify companies to best capture market opportunities.
Provident Acquisition Holdings Ltd., our sponsor, has been formed by seasoned investors, two of whom are affiliated with Provident Capital and Provident Growth (collectively with Provident Capital, “Provident Group”). Established in 2004, Provident Capital Indonesia and its affiliates (“Provident Capital”) are a group of Asia-focused investment firms with a focused investment approach of investing substantial funds in businesses where strong management capabilities have been built within the groups. Provident Growth is a leading growth stage private equity fund focused on technology investments in Asia. Established in 2018, Provident Growth has deep expertise in investing and building high growth technology businesses in Asia and has one of the largest portfolio of technology unicorns (in terms of the number of investments) among Asia-focused private equity funds (excluding venture capital funds and sovereign wealth funds).
Since its inception, Provident Group has invested in many high-growth technology companies across various Internet verticals and has created significant value from its investments in other businesses across a variety of industries in key countries in Asia. Leveraging its management team's significant experience in founding, operating and investing in businesses on the ground and identifying and executing deals across Asia over the past years, Provident Group has a proven track record and direct experience in successfully investing and building businesses in Asia, including four unicorns in the technology sector and certain blue chip companies in other industries such as telecommunications infrastructure and mining.
With management's differentiating and outstanding business-builder mentality as evidenced by their stellar operating track record, we are the partner of choice for potential business combination targets