McLaren SPAC looking for fintech with path to profitability: Sajan Pillai

Sajan Pillai tells 'Business Standard' what kind of company makes a good acquisition target for a SPAC.

McLaren Technology Acquisition Corp is a blank-cheque company that has raised Rs 1,500 crore ($201 million) for its special purpose acquisition vehicle (SPAC) and listed on the Nasdaq earlier this month. The company is looking for a fintech start-up in India that can be acquired and as a result be listed on the Nasdaq through the SPAC.

Sajan Pillai, McLaren Tech's promoter and the CEO of VC firm Season Two Ventures, tells Deepsekhar Choudhury about what kind of company makes a good acquisition target for the SPAC.

Edited excerpts of an interview.

What kind of financial metrics are you