Published by Global Banking and Finance Review
Posted on December 8, 2025
2 min readLast updated: January 20, 2026
Mayflower raised $500M in a London SPAC IPO, backed by ex-Lehman executives, to target private equity and venture capital exits.
Dec 5 (Reuters) - Mayflower Acquisition Limited, an investment vehicle founded by billionaire investor Noam Gottesman and former Lehman Brothers executives Jeremy Isaacs and Roger Nagioff, raised $500 million in its London IPO on Friday.
The acquisition vehicle said it had raised $494.75 million through the placing of ordinary shares at a price of $10.00 per share, as well as an additional $5.25 million from its founders via founder preferred shares. The founding group and affiliates of Gottesman have committed a total of $75.5 million to the company.
Mayflower is looking to use the funds to target companies that have been locked up in private equity and venture capital portfolios for longer than usual, it said in a statement.
Special purpose acquisition companies (SPACs) aim to offer an expedited route onto the public markets by listing before merging with a private firm.
EXIT STRUGGLES FOR VC, PE INVESTORS CREATE OPPORTUNITIES
Gottesman, Isaacs and Nagioff have a working relationship that stretches back three decades, Mayflower said.
Nagioff and Isaacs both held senior positions at Lehman Brothers and later co-founded investment firm JRJ Group.
Gottesman runs New York-based investment firm TOMS Capital. He co-founded GLG Group, which was sold to London-listed Man Group for $1.6 billion in 2010.
"The Directors believe that the current dislocation of public and private capital markets will create attractive acquisition opportunities that position the Company as a compelling partner for potential target companies or businesses," Mayflower said.
Private equity and venture capital investors have faced a strained exit environment in recent years due to a largely shuttered IPO market, a slide in valuations, and tighter financing conditions.
The environment has placed pressure on sellers and provides an opportunity to capitalise on market inefficiencies, Mayflower said.
Large family-owned firms with no clear exit path and non-technology-led companies backed by venture capital investors are also among the potential targets, it added.
(Reporting by Yamini Kalia in Bengaluru and Charlie Conchie in London; Editing by Sonia Cheem, Kate Mayberry and Joe Bavier)
A Special Purpose Acquisition Company (SPAC) is a type of investment vehicle that raises capital through an IPO to acquire or merge with an existing company, allowing it to go public without the traditional IPO process.
Private equity refers to investment funds that invest directly in private companies or buy out public companies, often with the goal of restructuring and improving their profitability before selling them for a profit.
Venture capital is a form of private equity financing that provides funds to startups and small businesses with long-term growth potential in exchange for equity, or partial ownership, of the company.
Ordinary shares are a type of equity security that represents ownership in a company, giving shareholders voting rights and the potential to receive dividends based on the company's profits.
Preferred shares are a class of ownership in a company that typically provides dividends before ordinary shares and has priority over ordinary shares in the event of liquidation.
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