This is the second PropTech-focused blank-check company or SPAC sponsored by an affiliate of Tishman Speyer Properties, one of the world’s leading real estate owners, developers, operators and investment managers. Tishman Speyer had $56.8 billion in assets under management and 82.7 million square feet under management across 121 assets as of Sept. 30, 2020, the prospectus says. (SPAC is an acronym for special-purpose acquisition company.)

From the SPAC prospectus: “We currently intend to focus on identifying businesses that can benefit from our sponsor’s leading brand, operational expertise and global network in the real estate industry, including real estate adjacent businesses and technologies targeting the real estate space, which we refer to as “PropTech” businesses. We define PropTech businesses broadly as those applying innovative digital technologies and technology-enhanced services and solutions to the identification, design, development, construction, operation, underwriting, acquisition, leasing, financing, management and disposition of real estate properties.”

(Note: Tishman Speyer Innovation Corp. II upsized its SPAC IPO at pricing on Feb. 11, 2021, to 30 million units, up from 25 million, at $10 each to raise $300 million.)