Venture investor Chamath Palihapitiya, known as the “SPAC king,” is launching a new special purpose acquisition vehicle, American Exceptionalism Acquisition Corp, aiming to raise $250 million for AI, energy, finance, and defense sectors. SPACs became popular in 2020 and 2021 but faced challenges recently due to regulatory scrutiny and investor caution.

Despite some setbacks, Palihapitiya remains a strong advocate for SPACs, believing they play a crucial role in capital formation. His successful bet on SoFi Technologies, now valued at nearly $29 billion, highlights the potential of SPACs in the market. Palihapitiya aims to address the imbalance between private and public markets through his SPAC ventures.

Read more at Yahoo Finance: Palihapitiya returns to SPAC market with American Exceptionalism’s IPO filing