This Cayman Islands-incorporated SPAC is backed by Tuatara Capital, a private equity firm focused on the cannabis industry. From the prospectus:

Our sponsor is an affiliate of Tuatara Capital, a cannabis sector-focused private equity firm founded in 2014. Tuatara Capital had over $390 million in investment capital as of July 2020. The firm is led by seasoned professionals with experience as principal investors, investment advisors, and entrepreneurs. Since its founding, Tuatara Capital has built a proprietary database of over 3,500 cannabis companies that have launched or have been seeking capital. In July 2020, Tuatara Capital completed raising its second flagship fund with a focus on long-term investments in growth-stage businesses in the emerging legal cannabis industry.

We intend to focus our search for businesses in the cannabis industry that are compliant with all applicable laws and regulations within the jurisdictions in which they are located or operate and, in particular, we will not invest in, or consummate a business combination with, a target business that we determine has been operating, or whose business plan is to operate, in violation of U.S. federal laws, including the U.S. Controlled Substances Act. 

We believe that the normalization of cannabis and its many uses and applications—in social consumption, pharmaceuticals, health and wellness and industrial raw materials and fiber—is creating a rarely seen opportunity to invest in related businesses. At the same time, the cannabis industry is highly fragmented and subject to a complex regulatory framework, creating significant barriers to entry. As the industry continues to transition to a new legal and regulatory landscape, we believe that many companies will need a partner that can assist in providing a level of operational and financial expertise to support their growth. Our team includes a variety of investment, operational, healthcare and consumer professionals who will be able to provide operating, technical, regulatory and legal expertise to assist a target business with efficient access to and deployment of its capital most effectively.

(Note: Tuatara Capital Acquisition upsized its SPAC IPO to price 17.5 million units, up from 15 million units, at  $10 to raise $175 million.)