VPC Impact Acquisition Holdings
VPC Impact Acquisition Holdings is a special purpose acquisition company formed for the purpose of entering into a combination with one or more businesses or entities.
Bakkt Holdings, LLC, the transformative digital asset marketplace launched in 2018 by Intercontinental Exchange, Inc. and a marquee group of investors and strategic partners, has entered into a definitive agreement to combine with VPC Impact Acquisition Holdings. Bakkt has been at the forefront of new innovations enabling institutions and consumers to buy, sell, store and spend digital assets. Bakkt’s differentiated and disruptive platform, soon to be made widely available through the new Bakkt App, will enable incremental consumer spending, reduce traditional payment costs and bolster loyalty programs, adding value for all key stakeholders within the payments and digital assets ecosystem.
“With VPC Impact Acquisition Holdings, our aim was to identify a high-growth fintech company with competitive differentiation and significant white space, and we are pleased to have found a great match in Bakkt,” said John Martin, CEO of VPC Impact Acquisition Holdings. “The company has a strong position in one of the most well-funded and fastest growing areas of technological expansion, as evidenced by its diversified revenue generation model and pathway to near-term profitability. We thank Jeff, David and the ICE team for their vision and look forward to working with Gavin and the Bakkt team to grow its market-leading position in digital assets.”
Please find more information on the press release here.
Bakkt held a Sell-Side Analyst Day on May 19, 2021 and the presentation and transcript is available on VPC Impact Acquisition Holdings’ EDGAR page.
Chairman and Chief Executive Officer
John Martin is the Chairman and CEO of VPC Impact Acquisition Holdings. Mr. Martin joined Victory Park Capital in November 2019 and is currently a Senior Partner. Prior to joining VPC, Mr. Martin was a Managing Partner and Co-CEO of Antares Capital through May 2019. Mr. Martin was a founding Partner of the original Antares Capital in 1996. Over the next 9 years, Antares grew to become the largest provider of middle market acquisition capital to Private Equity Sponsors. At Mr. Martin’s retirement, AUM at Antares exceeded $24 billion. Mr. Martin serves on the Board of the Executives Club of Chicago and is a member of the Economic Club of Chicago. Mr. Martin also serves as a Board member of the Center for American Entrepreneurship.
President and Chief Operating Officer
Gordon Watson joined VPC in 2014 and is a Partner in New York. He is primarily responsible for sourcing, analyzing, executing and managing investments across multiple strategies including asset backed debt, late-stage growth equity and special purpose acquisition companies. Mr. Watson is a member of the firm’s Investment Committee.
Previously, Mr. Watson was a portfolio manager at GLG Partners, a London-based 31 billion multi-strategy hedge fund that concentrates on a diverse range of alternative investments. He joined GLG when it purchased Ore Hill Partners, a credit focused hedge fund where Mr. Watson was a partner.
Mr. Watson received a B.A. in political science from Colgate University and an MBA from Columbia University.
Chief Financial Officer
Olibia Stamatoglou joined VPC in 2019 and is the Chief Financial Officer and Chief Compliance Officer. She oversees business and fund operations, including finance, compliance and accounting. She is a member of the firm’s Investment Committee and Valuation Committee.
Previously, Mrs. Stamatoglou served as vice president of finance at Valor Equity Partners where she managed firm and fund finance activities. Prior to Valor, she served as chief operating officer and chief financial officer of First National Assets, a specialty finance private equity group specializing in tax lien purchases and real estate owned ventures. She joined First National Assets from Aurora Investment Management where she progressed through several accounting roles. Mrs. Stamatoglou was recognized as one of Crain’s Notable Women in Finance for 2019.
Mrs. Stamatoglou received a B.S. in accounting and finance from DePaul University. She is a registered Certified Public Accountant in the State of Illinois (inactive).
Adrienne A. Harris
Adrienne A. Harris is an Independent Director of VPC Impact Acquisition Holdings. Mrs. Harris is an early-stage Fintech, Proptech and consumer packaged goods investor, and advises Fintech companies, incumbent financial institutions, and large venture capital firms.
She currently serves as a Professor of the Practice at the University of Michigan and as a Gates Foundation Senior Research Fellow with the Center for Finance, Law and Policy, focusing on the study of the Central Bank of the Future. Most recently, Mrs. Harris was Chief Business Officer and General Counsel of a San Francisco-based Insurtech startup, for which she is now an advisor.
Mrs. Harris was a Special Assistant to President Obama for Economic Policy at the National Economic Council, where she spearheaded the development of the administration’s Fintech strategy, chairing both the Interagency Fintech Working Group and the Distributed Ledger Technology Task Force. She previously served as Senior Advisor to the Deputy Secretary of the U.S. Department of Treasury, and prior to that was an Associate at Sullivan & Cromwell LLP.
Mrs. Harris earned her M.B.A. from the New York University Stern School of Business, her J.D. from Columbia University Law School, and her B.A. from Georgetown University, where she was a John Carroll Scholar and graduated with honors.
Kai Schmitz is an Independent Director of VPC Impact Acquisition Holdings. He currently serves as partner at investment firm Amadeus Capital, where he focuses on growth stage investments in Emerging Markets, secondaries and Fintech investments. He serves as an independent or personal investor on the Board of Fintech companies Koin, Minka, Movii and RS2.
Before joining Amadeus, Mr. Schmitz was FinTech Investment Lead and Latin America Regional Head at IFC, the World Bank’s private sector investment bank, and was instrumental in building it into a $600 million portfolio. He led equity investments in Brazil, Colombia, Hong Kong, Mexico, Uruguay, Turkey, the UK and the US across a wide range of Fintech business models.
Prior to IFC, Mr. Schmitz was a Senior Advisor at the World Bank’s Payments Systems team where he advised Central Banks and other government agencies on payment market infrastructure and regulation.
Mr. Schmitz holds a J.D. from University of Hamburg and an MBA from Henley Management College in the UK.
Kurt Summers, Jr.
Kurt Summers is an Independent Director of VPC Impact Acquisition Holdings. He is currently a Senior Advisor at Blackstone and Ullico, where he provides insight and strategic direction around various investment opportunities and existing holdings.
Mr. Summers served as Chicago’s 70th City Treasurer from 2014-2019, managing the city’s more than $8 billion investment portfolio and serving as a trustee or fiduciary of five local pension boards with nearly $25 billion under management. Mr. Summers oversaw the development of the most comprehensive ESG integration strategy of any major city in the world, integrating ESG into 100% of its investment decisions on corporate, agency and municipal fixed income securities.
Previously, Mr. Summers served as a Senior Vice President at Grosvenor Capital Management where he helped lead the firm’s strategy and business development efforts. Mr. Summers has also held positions with the Cook County Board of Commissioners, Ryan Specialty Group, Balton Corporation, and McKinsey & Co.
He received a Bachelor of Science in Business Administration from Washington University in St. Louis and holds a Master of Business Administration from Harvard Business School.