StoneBridge Acquisition Corporation is a blank check company focused on a target with operations or prospective operations in the consumer technology, communications, software, SaaS, fintech or media sectors, which we refer to as the “new economy sectors”. Our geographic focus is Asia Pacific, with a special emphasis on targets in India. We believe that India is entering a new era of economic growth, particularly in the new economy sectors, which we expect will result in attractive initial business combination opportunities for attractive risk-adjusted returns. We intend to focus our efforts on seeking and completing an initial business combination with a company that has an enterprise value of between $600 million and $1.5 billion, although a target entity with a smaller or larger enterprise value may be considered.
According to a report published by the Brookings Institute, we may be in the middle of a tipping point where a majority of the world’s population, for the first time ever, will live in middle-class or rich households. This report also suggests that the vast majority— about 88 percent—of the next billion entrants into the global middle class will be in Asia: 380 million Indians, 350 million Chinese, and 200 million other Asians. This makes India a very lucrative, fast growing market for tech enabled products and services.
These specific industries and allied markets are seeing disruption and redesign as consumers expect better, faster and lower cost solutions that sit on top of the robust digital infrastructure – by 2030 there will be an anticipated 1.1 billion diverse Internet users across India. In order to conquer the Indian middle class (“IMC”) markets, founders and startups have created niche business models through cutting edge technology and have scaled them exponentially at a staggering growth through large quantum of early stage growth capital infusion from silicon valley and global VCs. This has resulted in creating the next generation Unicorns and Soonicorns, India today has over 100. 90 percent of this Unicorns and Soonicorns are heavily concentrated across 5 Sectors, 5 cities and 15 investors.