The partnership includes Delaney becoming a Senior Advisor strengthening the firm’s unique positioning and capabilities
WASHINGTON, D.C., December 10, 2020– Revolution announced today that it partnered with John Delaney for Revolution Acceleration Acquisition Corp (Nasdaq: RAAC) (“RAAC”), a Special Purpose Acquisition Company (“SPAC”), which priced its IPO on Monday and closed today.
Delaney is RAAC’s Chief Executive Officer and oversees its day-to-day activities. He will also become a Senior Advisor at Revolution, lending his deep business and policy experience to the firm.
As the former Chief Executive Officer of two publicly traded companies, Delaney has demonstrated significant success as an entrepreneur, manager, and industry leader. He founded and led two New York Stock Exchange listed companies before the age of 40, and his companies significantly outperformed their peers in terms of total shareholder return. Delaney also represented Maryland in the U.S. House of Representatives for six years. In Congress, Delaney was known for bipartisan solutions and was a member of the Financial Services, Joint Economic, and Steering and Policy Committees. In 2017, Delaney was named one of the World’s 50 Greatest Leaders according to Fortune Magazine, and in 2019, he stepped down from Congress to pursue a run for the Democratic nomination for President of the United States. Delaney currently serves as Executive Chairman of Congressional Bancshares, Inc.
“I’ve had the opportunity to work closely with John over the past 15 years, on both business and policy initiatives,” said Steve Case, Chairman and CEO of Revolution LLC and Co-founder of AOL. “I’m delighted to have the opportunity to work with him again as we add capabilities and resources to Revolution, backing a new generation of entrepreneurs that understand and value the importance of policy, partnerships and place. This alliance will open up new opportunities for our family of Revolution funds and deepen our resources to support our companies.”
“I’m delighted to partner with Revolution, a firm I have worked with previously and one that I have admired for many years,” said Delaney. “In my judgment, Revolution is extremely well positioned for the next wave of innovation and has a highly differentiated platform – investing, among other areas, at the convergence of technological innovation, economic growth and public policy. While in Congress I worked closely with Steve on his efforts to support entrepreneurship and startups in all communities across America, an important effort where he is a singular champion. Revolution is an ideal partner for this SPAC, and I look forward to working with Steve and his superb team to launch RAAC and further strengthen Revolution’s unique market position.”
About Revolution
A Washington, D.C.-based investment firm founded in 2005, Revolution partners with entrepreneurs to build transformative, category-defining companies. Revolution’s funds back startups at nearly every stage of the entrepreneurial lifecycle. For more information, please visit: www.revolution.com or follow us on Twitter @Revolution.
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