EQV Ventures Acquisition Corp. Reports Financial Performance for Fiscal Year Ending December 31, 2024

EQV Ventures Acquisition Corp., a blank check company incorporated in the Cayman Islands, has reported its financial performance for the fiscal year ending December 31, 2024, in its recent 10-K filing. The company successfully completed its initial public offering (IPO) on August 8, 2024, raising gross proceeds of $350 million from the sale of 35 million units, each priced at $10.00. Additionally, EQV Ventures raised $4 million from a private placement of 400,000 units to its sponsor and $2.625 million from another private placement to BTIG, LLC. As of December 31, 2024, the company held approximately $356.4 million in its trust account, which is intended for use in completing its initial business combination.

The company has not yet engaged in any operations or generated revenue, as it is still in the process of identifying a suitable target for acquisition. As of the end of 2024, EQV Ventures reported a net income of $6.86 million, primarily from interest earned on marketable securities held in the trust account. This figure reflects a significant increase compared to the previous fiscal period, where the company had no revenue or operational activities. The filing indicates that the company is focused on the energy sector, particularly targeting upstream exploration and production businesses.

In terms of strategic developments, EQV Ventures has outlined its intention to leverage the expertise of its management team and the EQV Group, which manages approximately 1,500 oil and gas properties across North America and Europe. The company aims to identify and acquire businesses with strong competitive positions and attractive financial profiles. As of March 28, 2025, EQV Ventures has not yet selected a target business, but it plans to utilize the funds from its IPO and private placements to facilitate this acquisition.

Operationally, the company has a management team of over 30 individuals with extensive experience in executing complex transactions in the energy sector. The filing notes that the company has incurred expenses related to being a public entity, including legal and compliance costs, but it does not anticipate needing to raise additional funds to meet its operational expenditures in the near term. However, if the company cannot complete its initial business combination within 24 months from the IPO, it will be required to redeem public shares at a pro-rata amount from the trust account.

Looking ahead, EQV Ventures has expressed confidence in its ability to identify a suitable target business and complete its initial business combination. However, the company acknowledges potential risks, including market volatility, geopolitical events, and competition from other special purpose acquisition companies (SPACs) seeking similar targets. The management team remains committed to enhancing shareholder value through strategic acquisitions and operational improvements once a target is identified.