Digital investment platform Linqto to list on Nasdaq via SPAC

The transaction values the firm at $700 million and will drive growth.

Linqto, a digital platform that enables accredited investors to invest in leading unicorns and private tech companies, is to list on the Nasdaq through a merger with a special interest acquisition company.

The deal with Blockchain Coinvestors Acquisition Corp., which is listed under the ticker BCSA, values Linqto at approximately $700 million, and the SPAC will merge with and into Linqto upon closing with the merged entity operating under the Linqto name. Existing Linqto shareholders will receive common shares in BCSA.

BCSA is currently domiciled in the Cayman Islands but will switch jurisdiction to Delaware once the transaction closes, which is expected to be in the last quarter of 2024. Both firms’ boards of directors have approved the deal, but it will require shareholder approval along with other customary closing conditions identified in the business combination agreement that both parties have signed.

Linqto enables investors to participate in private venture investments, which were once the exclusive domain of institutions and privileged, ultra-wealthy people via its intuitive technology platform.

“This merger represents a significant milestone in Linqto’s journey towards growth and innovation in the private investing space,” said Joe Endoso, CEO of Linqto. “We are excited about the opportunities it brings to further enhance our platform and provide even greater value to our investors. Our focus remains steadfast on driving growth and expanding opportunities in the private markets.”

Endoso has previously expressed interest in the idea of financial advisors being the gatekeepers for investors wanting to invest in the private markets.

Investment advice “provides a level of financial literacy and sophistication,” he told InvestmentNews in 2023. The advisor also can assess whether the investor’s risk profile is a good fit for a private investment. “I love the idea of a financial advisor stepping in and helping them,” Endoso added.