Colin Kaepernick’s influence is still on the rise.
The former NFL quarterback is part of a group looking to raise $287.5 million in an IPO for blank check company Mission Advancement. Kaepernick, with private investment firm The Najafi Companies, will look to acquire a consumer business worth around $1 billion with the intent of taking it public.
The SPAC’s board members are majority female and 100% BIPOC.
Mission Advancement’s filing referenced Kaepernick’s “substantial business experience” and “long-term leadership on racial equity and justice issues,” as well as his involvement with Nike, Disney, Apple, Amazon and other major brands.
- Kaepernick, who last played in the NFL in 2016, has since founded the Know Your Rights Campaign to raise awareness about higher education and self-empowerment in Black and brown people.
- In 2018, Kaepernick completed his mission of donating $1 million to social justice-focused organizations, and raised an additional $400,000 from athletes and celebrities including Kobe Bryant, Steph Curry and Serena Williams.
- He is reportedly working on a memoir, and said as recently as last year that he still wants to play in the NFL.
The SPAC filing noted that purpose and profit can be symbiotic, and that consumers have greater trust in brands with values that align with their own.