WHAT would you do if you received a check for $175 million, the only condition being that you had to invest it in travel and transportation technology companies? Mark Farrell and Chris Hemmeter are working through that very puzzle, having raised that sum and sorting through “a firehose” of possible investment deals.
The two men, co-founders of Thayer Ventures, launched Thayer Ventures Acquisition Corp. to create an investment vehicle known as a special purpose acquisition company (SPAC). Through an initial public offering last fall, they raised the money to take advantage of what they believe is a unique opportunity for investors: the post-Covid recovery of travel.
Common…