Fifth Wall SPAC Seeks $250 Million

Venice-based Fifth Wall Ventures Management is launching its third special purpose acquisition vehicle, or SPAC, and the venture capital firm has recruited athletic star power to help identify overseas combinations, according to a securities filing made with the federal government.

Alana Beard, a former WNBA all-star with the Los Angeles Sparks, has joined as a board member of the SPAC, as well as Fifth Wall’s two other SPACs announced earlier this year. Beard also is a senior associate with Silicon Valley-based venture capital firm SVB Capital.