TPG Pace Tech Opportunities is a special purpose acquisition company formed by TPG for the purpose of entering into a merger, stock purchase or similar business combination with one or more businesses. The company’s strategy is to identify and acquire businesses that complement our sponsor’s and management team’s background in technology and related areas. In October 2020, TPG Pace Tech Opportunities priced an IPO, raising approximately $450 million in addition to $150 million of committed capital raised in a forward private placement.
On January 29, 2021, TPG Pace Tech Opportunities entered into a definitive agreement to acquire Nerdy Inc. for a combination of cash and equity. Nerdy is the leading direct-to-consumer, curated gig economy platform for live online learning benefiting both learners and experts.