Kevin Durant Launches $200M SPAC For Sports, Consumer Tech

Kevin Durant and Thirty Five Ventures partner Rich Kleiman have filed for a special purpose acquisition company in partnership with LionTree, a media-focused investment bank.

The SPAC wants to pursue “technology-enabled platforms, disrupting the traditional worlds of sports, health, wellness, food, commerce and culture through their unique relationship with the consumer,” according to the SEC filing. “We believe the unique reach, influence access, prominence and investing track record of Mr. Durant and Mr. Kleiman, combined with the extensive scope of LionTree’s relationships, strategic network and proprietary deal flow, makes us a highly unique and differentiated partner.”

The SPAC is a 50-50 joint venture between Thirty Five and LionTree, meaning each are sponsors and splitting the costs of bringing the SPAC to market.

Durant’s effort joins active 137 other SPACs that have a sports focus or involve a sports figure.

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