Former Morgan Stanley India head Ramachandran's SPAC to tap diaspora in US

A blank-check company backed by former Morgan Stanley India head Narayan Ramachandran has set its sights on acquiring a US software firm with links to the South Asian country.

KludeIn 1 Acquisition Corp, a special purpose acquisition company, raised about $173 million in an initial public offering in January. The Nasdaq-listed firm aims to combine with a software or technology-enabled business serving consumers or companies in the US, according to its IPO prospectus.

“We are looking at companies which have a story connection to Indian diaspora,” said Ramachandran, chairman and chief executive officer of KludeIn, in an interview. “It could be companies