Two Chicago startups going public via SPACs

Two fast-growing Chicago startups plan to go public in SPAC deals announced today. Fast Radius, a 3D-printing technology company in the West Loop led by former McKinsey partner Lou Rassey, said it’s going public in a deal with special-purpose acquisition company ECP Environmental Growth Opportunities that will value it at $1.4 billion. ECP is a blank-check company based in Summit, N.J., that went public early this year. Fast Radius’ prior investors include Drive Capital, a venture fund in Columbus, Ohio, as well as Chicago-based investors Hyde Park Venture Partners, Jump Capital and Michael Polsky’s Skydeck Capital. Kin Insurance, an online insurance startup focused on the homeowner market, said it will go public in a SPAC deal with Omnichannel Acquisition Company. Kin, which sells insurance to homeowners in Florida, Louisiana and California, will be valued at $1 billion. Omnichannel, also based in Summit, N.J., is led by Matt…

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