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Peter Thiel. Photo: Michael Cohen/Getty Images for the New York Times

Peter Thiel is involved in a new SPAC that on Wednesday filed for a $575 million IPO, becoming the latest Silicon Valley tech investor to ride Wall Street's hottest wave.

Why it matters: Thiel, who co-founded PayPal, is one of the few top Silicon Valley investors who have close ties to the Trump administration. He also sits on the board of Facebook.

The SPAC is called Bridgetown Holdings, and it will seek to buy a tech, financial services or media company in Southeast Asia.

  • Thiel Capital is one of its sponsors, alongside Pacific Century and Pine Bridge Investments.
  • Matt Danzeisen, Thiel's husband and head of private investments at Thiel Capital, is the SPAC's chairman. Its CEO is Pacific Century executive Daniel Wong, while Sam Altman (CEO of OpenAI, former president of Y Combinator) is on the board.

Go deeper: Reid Hoffman, another PayPal alum, joined today's Axios Re:Cap podcast to discuss why so many tech investors have created SPACs:

Go deeper

Dan Primack, author of Pro Rata
Nov 30, 2020 - Economy & Business

What to know about the private equity firm linked to Tony Blinken

Photo: Mark Makela/Getty Images

Expect to begin hearing a lot about private equity firm Pine Island Capital Partners, as its partners include Tony Blinken (Biden's secretary of state nominee, now on leave from Pine Island) and Michèle Flournoy (Biden's possible defense secretary nominee).

What to know: Pine Island was formed in 2018 by former CIT Group and Merrill Lynch CEO John Thain, former Goldman Sachs buyout big Phil Cooper, and ex-Coca-Cola executive Clyde Tuggle. It focuses on mid-market companies in a variety of sectors, including aerospace and defense.

Jan. 6 committee subpoenas Rudy Giuliani, Sidney Powell

Rudy Giuliani. Photo: Jeff Kowalsky/AFP via Getty Images

The House select committee investigating the Jan. 6 Capitol riot released its latest round of subpoenas on Tuesday evening, this time focusing on several of former President Trump's lawyers, including Rudy Giuliani and Sidney Powell, and former adviser Boris Epshteyn.

Why it matters: The panel said the four individuals subpoenaed were involved in efforts publicly promote Trump's unfounded claims of election fraud as well as efforts to "disrupt or delay" the certification of the election's results.

3 hours ago - World

U.S. warns Russia may attack Ukraine from Belarus

Belarus dictator AlexPhoto: Mikhail Klimentyev\TASS via Getty Images

The U.S. believes that Russia may use joint military exercises inside Belarus as cover for an invasion of Ukraine from the north, according to a senior State Department official.

Why it matters: New deployments to the Belarus-Ukraine border in the coming weeks — in addition to the 100,000 Russian troops already encircling Ukraine from the north, east and south — could allow Russia to open up a new front less than 100 miles from the Ukrainian capital, Kyiv.