Warburg Pincus files two SPACs targeting to raise a total of $750m REUTERS/Dado Ruvic February 18, 2021 Private equity firm Warburg Pincus is looking to raise up to $750 million for two blank-check firms that could merge with businesses with near-term potential to bring in strong free cash flow, according to regulatory filings on Wednesday. The blank-check firms, Warburg Pincus Capital Corporation I—A and Warburg Pincus Capital Corporation I—B, said they are aiming to raise up to $250 million and $500 million respectively. SPACs (special purpose acquisition companies) are shell companies that go public, typically at $10 a share, through an initial public offering and use the proceeds to buy a private firm, usually within two years. The private firm then becomes publicly traded as a result.