Not all SPAC sponsors are the same— @clover_health was going to IPO but had known @chamath since its founding & when he showed interest in a SPAC, clover decided to explore it. While a dozen SPACs reached out to Ceo Toy, he was interested only in merging with $IPOC or going IPO.

A former $FB exec, @chamath was best equipped to pitch @clover_health to tutes because he understood Clover’s technology & had an intimate level of understanding that a LT investor in health care, accustomed to traditional, less tech-savvy health insurance cos, might lack. $IPOC

That’s not all, @chamath demonstrated his confidence in @clover_health success as a public company by contributing $100m of his own $ to the $400m PIPE, which also included Fidelity, Jennison Associates, Casdin Capital & Perceptive, A-lister health care investors. $IPOC