The billionaire financier’s U.S. hedge fund, Citadel, purchased roughly 1.5 million  shares in the Toronto-based blank-cheque company, Citadel spokesperson Zia Ahmed told The Logic. Citadel’s stake is worth approximately US$15 million. (The Logic)

Talking point: Citadel’s investment, which hasn’t been previously reported, gives the SPAC a high-profile backer as it pursues a large acquisition in the fintech sector. The investment, disclosed in a Dec. 10 filing with the U.S. Securities and Exchange Commission, represents over five per cent of the SPAC’s Class A ordinary shares. Launched earlier this year by Power Corp.-linked fintech investment fund Portage Ventures, the SPAC raised US$240 million in July in an IPO on the Nasdaq. Citadel Advisors, which reportedly has at least US$30 billion under management, has invested in at least one other high-profile SPAC: Pine Island Acquisition Corporation, owned by a firm that has ties to senior U.S. officials in the Biden administration.