Who is behind CGCF? Cartesian Capital
The people who set Cartesian Growth IV up, what they have done before, and what happened to the shareholders who backed their earlier vehicles — every outcome cited to an SEC filing.
Deal completion: 3/3 resolved vehicles closed a deal (100%); 0 liquidated, 0 terminated. Gated ×0.86 by measured post-close quality (36/100): closing deals that ended below trust value is not a completed job, so only 86% of the completion credit is earned. Full credit resumes at outcome quality 50/100 (the median deSPAC ending at trust value); the gate can never exceed 1×.
Mixed record · medium confidence — the same inputs always produce the same score.
Track record
The fleet this sponsor runs today, and the SEC-verified fate of every prior vehicle we have traced.
- Cartesian Growth Corporation · 2021→ AlTi GlobalALTICompleted
- Cartesian Growth Corp III · 2025→ Factorial EnergyFACCompleted
- Cartesian Growth Corp II · 2021→ in-deal (InoBat, OTC)Searching
- Cartesian Growth Corp IV · 2026Searching
Cartesian Growth / Cartesian Capital franchise (led by Peter Yu). Prior-vehicle track record (SEC-verified): (1) Cartesian Growth Corporation COMPLETED its deSPAC — it merged with Alvarium Tiedemann to form AlTi Global, Inc. (Nasdaq: ALTI) in early 2023 (SEC former names on that CIK: "Cartesian Growth Corp" -> "Alvarium Tiedemann Holdings, Inc." -> "AlTi Global, Inc."); the combined company remains listed but has traded persistently below the $10 SPAC NAV, a weak post-close return. (2) Cartesian Growth Corp II has a pending business combination with battery maker InoBat; it has slipped to OTC (tickers RENEF/REEUF/REEWF) yet is still filing merger 425s as of July 2026. (3) Cartesian Growth Corp III (CGCT) and (4) Cartesian Growth Corp IV (CGCF) are currently searching. Net: 1 completed deSPAC (below NAV), 1 in-deal, 2 searching. Sources: SEC EDGAR submissions API + full-text search (efts.sec.gov).
Full sponsor record →Why the sponsor matters
The thirty-second version, for anyone who has never traded a SPAC.
A SPAC is an empty listed company; the sponsor is the only substance it has before a deal. They pick the target, negotiate the terms, and typically hold founder shares — equity they received nearly free — which pay off for them even in deals that lose public holders money. A sponsor’s prior vehicles are the closest thing to evidence about how this one ends.
How the founder-share incentive works is covered in our plain-English guide to the sponsor promote.
In plain English
Cash in trust / trust per sharethe cash the company is holding for each public share
Filed quarterly in the 10-Q's XBRL. It earns interest between filings, so the figure on a given day is slightly higher than the last filed one — where we show that we label it an estimate.
Dilutionhow much of the company new shares take from you
Sponsor promote, PIPE shares, warrants and rights all issue stock that did not pay $10 for it. The headline deal value is before that; the effective value is after.
De-SPACthe day the SPAC becomes the real company
The shares stop being a claim on a pot of cash and start being equity in an operating business. Roughly 80% of recent de-SPACs traded below $10 within a year.