8i Acquisition 2 Corp. (LAX) Bundle
As a special purpose acquisition company formed in January 2021 with a clear Asia‑Pacific mandate, 8i Acquisition 2 Corp. (LAX) made a milestone move in November 2022 by completing a business combination with Singapore-based EUDA Health Limited, now operating as EUDA Health Holdings Limited under CEO Dr. Kelvin Chen, leveraging a management team that collectively brings over 220 years of cross‑sector experience to pursue scalable platforms; LAX targets companies with enterprise values between $500 million and $3.0 billion, prioritizing strong competitive and defensible market positions, tech‑enabled growth opportunities, disciplined M&A execution, and concrete strategies to improve operational efficiency and drive revenue and profit expansion across the region.
8i Acquisition 2 Corp. (LAX) - Intro
8i Acquisition 2 Corp. (LAX) is a special purpose acquisition company incorporated in January 2021 with a stated mandate to identify and merge with businesses primarily in the Asia‑Pacific region. In November 2022 LAX completed its first significant business combination with EUDA Health Limited, a Singapore‑based digital health platform; the combined public entity operates under EUDA Health Holdings Limited with Dr. Kelvin Chen as CEO.- Incorporation: January 2021
- First business combination closed: November 2022 (EUDA Health Limited)
- Post‑merger operating name: EUDA Health Holdings Limited
- Executive leadership: Dr. Kelvin Chen, CEO
- Target enterprise value range for acquisitions: $500 million - $3.0 billion
- Primary geographic focus: Asia‑Pacific
- Sector focus: scalable growth platforms (notably digital health)
- Acquisition size focus: mid‑to‑large enterprise values ($500M-$3.0B)
- Value‑creation levers: operational improvement, go‑to‑market scaling, M&A follow‑on
| Criterion | Minimum/Target | Rationale |
|---|---|---|
| Enterprise Value | $500 million - $3.0 billion | Targets meaningful scale while allowing management to deploy SPAC capital and follow‑on financing |
| Market Position | Defensible / sustainable competitive advantage | Lower execution risk and higher margins potential |
| Revenue Profile | Scalable recurring revenue preferred | Predictable cash flow to support growth investments |
| Geography | Asia‑Pacific priority | Leverage regional management expertise and market access |
| Management Alignment | Experienced operating team | Hands‑on operational value creation post‑closing |
- Post‑transaction governance: public reporting discipline and board oversight
- Growth initiatives: regional expansion, product diversification, partnerships
- Operational initiatives: margin improvement, tech integration, customer‑LTV optimization
8i Acquisition 2 Corp. (LAX) - Overview
8i Acquisition 2 Corp. (LAX) is a special purpose acquisition company focused on identifying and merging with mid-to-large enterprises in the Asia-Pacific region. The company's mission centers on leveraging its management team's deep industry experience to improve operational efficiency, scale revenue, and create long-term shareholder value through strategic acquisitions.- Primary mission: Identify and combine with businesses in the Asia-Pacific region to accelerate growth and increase shareholder value.
- Target enterprise value (EV) range: $500 million to $3.0 billion - aimed at scalable growth platforms.
- Strategic emphasis: Acquire companies with a strong, defensible competitive position and clear pathways to margin expansion.
- Management expertise: Over 220 years of combined experience across STEM, medical technologies, consumer goods, entertainment, information security, and fintech.
- Regional advantage: Deep business ties within the Asia-Pacific tech community to source and evaluate a broad pipeline of opportunities.
| Metric | Detail |
|---|---|
| Mission Focus | Acquisitions in Asia-Pacific to improve efficiency and scale revenue/profits |
| Target Enterprise Value | $500 million - $3.0 billion |
| Management Experience | 220+ combined years across multiple high-growth sectors |
| Sector Priorities | STEM, medical technologies, consumer goods, entertainment, information security, fintech |
| Geographic Focus | Asia-Pacific (greater access to tech and growth markets) |
| Value-Creation Levers | Operational improvement, strategic M&A, go-to-market scaling, margin optimization |
- Operational execution priorities:
- Implement best-practice operational dashboards and KPIs to drive margin improvement.
- Leverage management experience to optimize cost structure and supply-chain efficiency.
- Execute targeted revenue initiatives (cross-sell, pricing, channel expansion) to accelerate top-line growth.
- Due diligence and selection criteria:
- Defensible market position and barriers to entry.
- Attractive unit economics with clear improvement pathways.
- Scalable management and recurring-revenue characteristics where applicable.
8i Acquisition 2 Corp. (LAX) - Mission Statement
8i Acquisition 2 Corp. (LAX) exists to source, acquire, and scale mid-market Asia‑Pacific businesses with enterprise values between $500 million and $3.0 billion, deploying a disciplined, operationally focused playbook that converts platform potential into sustainable shareholder value. Vision Statement- Become a leading investment firm in the Asia‑Pacific region focused on scalable growth platforms with defensible competitive positions.
- Target companies with enterprise values of $500M-$3.0B that can accelerate through tech‑enabled improvements and market expansion.
- Leverage the management team's combined operational and transactional experience to improve margins, optimize capital allocation, and execute buy‑and‑build strategies.
- Utilize deep tech community ties across APAC to evaluate a broad pipeline of proprietary opportunities and strategic add‑on acquisitions.
- Create measurable shareholder value by driving revenue growth, margin expansion, and higher capital efficiency in portfolio companies.
- Target profile: enterprise value $500M-$3.0B; profitable or near‑profitable platforms with 10%-30%+ organic growth potential.
- Sector emphasis: technology‑enabled services, enterprise software, fintech infrastructure, digital health, and specialized industrial tech.
- Value creation levers: digital transformation, pricing optimization, sales & GTM scaling, supply‑chain rationalization, and bolt‑on acquisitions.
- Geography: primary focus on APAC hubs (Singapore, Hong Kong, Australia, South Korea, Japan) with cross‑border scalability into North America and Europe.
| Metric | Baseline / Target | Timeframe |
|---|---|---|
| Enterprise value of target acquisitions | $500M - $3.0B | Ongoing |
| Target portfolio revenue growth | 10% - 30% CAGR (post‑investment) | 3-5 years |
| EBITDA margin improvement | +500-1,500 bps (relative to pre‑acquisition) | 3 years |
| Return on invested capital (ROIC) | Target >15% unlevered | 5 years |
| Debt / EBITDA (post‑transaction) | 1.5x - 3.0x (target range) | Initial structuring |
| Average add‑on acquisition size | $25M - $250M | Per transaction |
- Rapid diagnostic within 90 days post-close to define a 100‑day plan focused on cash, cost, and growth priorities.
- Implement tech‑enabled efficiency programs-cloud migration, automation, CRM & pricing analytics-to drive 10%-30% productivity gains.
- Scale commercial engines: hire/align sales leadership, expand channel partnerships, and execute customer segmentation to increase wallet share.
- Disciplined capital allocation with clear thresholds for organic investment vs. buy‑and‑build M&A.
- Integrity: transparent governance, rigorous compliance, and alignment with minority and majority stakeholders.
- Operational Excellence: data‑driven decision making, KPIs tied to compensation, and relentless cost‑to‑value scrutiny.
- Partnership: long‑term, founder‑friendly approach that preserves entrepreneurial incentives while professionalizing operations.
- Innovation: prioritize tech adoption and digital business models that offer defensible, scalable advantages.
- Regional Commitment: deep APAC market focus with on‑the‑ground relationships to source proprietary deal flow.
| Item | Illustrative Value |
|---|---|
| Purchase price (enterprise value) | $850,000,000 |
| Equity invested by LAX | $350,000,000 |
| Debt raised | $400,000,000 |
| Revenue at close | $220,000,000 |
| EBITDA at close | $33,000,000 (15% margin) |
| Target EBITDA (3 years) | $66,000,000 (30% margin) |
| Project IRR (to equity) | Target 18%-25%+ |
- Annual proprietary deal flow: target 150+ reviewed opportunities with 10-15 pursued exclusives.
- Conversion rate to signed deal: ~1-3% (reflecting selectivity in $500M-$3B band).
- Typical diligence timeline: 60-120 days for definitive documentation.
- Senior team with combined 50+ years of private equity, operating, and tech leadership experience across APAC and global markets.
- Deep relationships in regional tech hubs to source proprietary deals and identify strategic partners for scale.
- Operational playbook with track record of delivering 500-1,500 bps margin expansion in prior platform investments (targeted replication).
8i Acquisition 2 Corp. (LAX) - Vision Statement
8i Acquisition 2 Corp. (LAX) pursues a clear vision: to be the preferred partner for founder- and family-owned companies and management teams seeking growth capital, operational expertise, and a disciplined path to scale and public-market value realization. LAX combines private-market selection rigor with public-market accountability to generate long-term shareholder value through targeted acquisitions in the $500 million to $3.0 billion enterprise value band.- Target enterprise values: $500 million - $3.0 billion
- Preferred deal size: middle-market to lower-upper market buyouts
- Primary focus: control or significant minority positions with governance rights
- Geography: North America-focused with selective global opportunities
- Disciplined M&A thesis - conservative valuation frameworks, focus on downside protection and multiple levers for value creation.
- Scalable growth orientation - prioritizing businesses with platform potential and repeatable unit economics.
- Management alignment - seeking teams with proven track records and formalized succession planning.
- Tech-enabled transformation - investments that can meaningfully benefit from digital, data, or automation trends.
- Defensible competitive position - market leaders or niche champions with high barriers to entry.
- Operational rigor - clearly defined KPIs, cost-efficiency initiatives, and margin-expansion roadmaps to lift EBITDA and free cash flow.
| Metric | Threshold / Target | Rationale |
|---|---|---|
| Enterprise Value (EV) | $500M - $3.0B | Sweet spot for scalable, operationally-improvable businesses |
| Revenue Growth (organic target) | 8% - 20% CAGR (first 3 years) | Combination of market growth and go-to-market expansion |
| EBITDA Margin Expansion | +300 - +800 basis points over 24-36 months | Operational improvements, SG&A rationalization, commercial leverage |
| Return on Invested Capital (post-integration) | 15%+ target | Reflects efficiency and disciplined capital allocation |
| Leverage (post-transaction net debt / EBITDA) | 1.5x - 4.0x (deal- and sector-dependent) | Balanced debt capacity to preserve flexibility |
| Hold period | 3 - 7 years | Allows time for strategic initiatives and value capture |
- Commercial acceleration - expand channels, pricing optimization, cross-sell initiatives.
- Technology enablement - invest in CRM/ERP modernization, analytics, and automation to raise productivity and gross margins.
- Operational excellence - procurement optimization, supply-chain redesign, and centralization of shared services.
- Talent and governance - strengthen management bench, establish KPIs, and execute succession plans aligned to shareholder interests.
- Selective add-on acquisitions - bolt-on M&A to deepen capabilities and accelerate scale.
| Underwriting Item | Conservative Case | Base Case | Stretch Case |
|---|---|---|---|
| Implied Entry EV/EBITDA Multiple | 8.0x | 10.0x | 12.5x |
| Projected Revenue CAGR (3 years) | 4% - 8% | 8% - 12% | 12% - 20% |
| EBITDA Margin Improvement (bps) | +300 bps | +500 bps | +800 bps |
| IRR Target (unlevered) | 10% - 15% | 15% - 22% | 22%+ |
| Typical Investment Size (equity) | $100M - $300M | $200M - $500M | $400M - $800M |
- Alignment of economic incentives between shareholders and management via equity rollovers, earn-outs, or performance-based equity.
- Robust due diligence - commercial, financial, tax, IT/technology, and ESG factors inform valuation and integration planning.
- Continuous board oversight - active, experienced directors to guide strategic priorities and risk mitigation.
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