SPACs

Social Justice Comes to SPAC World, Colin Kaepernick Style

February 11, 2021



Colin Kaepernick is bringing his social justice game and championing of diversity issues to the wide world of SPACs, per an article in the WSJ.  Somehow, this SPAC story feels different from all the rest.

Mission Advancement
Along with private equity bigwig Jahm Najafi, Colin will be the co-chair of Mission Advancement Corp., which is looking to raise $287.5 million.  The dynamic duo wants to invest in a business that “delivers a significant impact financially, culturally and socially,” and is a consumer business with an enterprise value of more than $1 billion.  Doing well while doing good sounds good to me.

Deep and diverse bench

  • Jahm Najafi runs the private-equity firm Najafi Companies and is a minority owner in the NBA’s Phoenix Suns
  • Board that is majority female and 100% Black, indigenous and people of color
  • Board member Katie Beauchamp, the CEO and co-founder of Birchbox
  • Board member Omar Johnson, a former executive at Apple and Beats by Dre

Colin’s been busy since his abrupt NFL career ending

  • Inked a partnership with Disney to produce content on social issues;
  • joined the Medium board of directors;
  • has his own Ben & Jerry’s flavor “Colin Kaepernick’s Change the Whirled”;
  • launched a Netflix series with Ava Duvernay;
  • prominent endorser for Nike and has his own Nike shoe;
  • started a publishing company aimed at lifting diverse voices; and 
  • has a charity, Know Your Rights Camp, which has been active during the pandemic and helped pay legal bills for protesters after the killing of George Floyd.

Now, we just need to decide on the proper title for his resurgence­ –  ‘the Comeback Kid” or “A Cinderella Story.”


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