After raising $3.7 billion for 5 SPACs in 2020, investor Chamath Palihapitiya has reportedly confidentially filed for 7 more with the SEC

• Chamath Palihapitiya confidentially filed seven new SPACs with the SEC, according to the Wall Street Journal.
• The buzzy investor publicly backed five SPACs at a combined total of $3.7 billion in 2020.
• Palihapitiya has expressed interest in forming an additional group of biotech-focused SPACs.

Chamath Palihapitiya's enthusiasm for special purpose acquisition companies, or SPACs, may run even deeper than his Wall Street disciples and social media followers realize.

The buzzy investor publicly backed five SPACs at a combined total of $3.7 billion in 2020 through his technology investing firm, Social Goods. However, a new report from the Wall Street Journal found that Palihapitiya confidentially filed for seven new SPACs with the Securities and Exchange Commission, pointing to new ventures to come.

Though the industry and company targets for these seven SPACs remain unknown, Palihapitiya has been hard at work bringing others public through the SPAC process, which functions differently from a traditional initial public offering. His recent contributions include Virgin Galactic Holdings, Opendoor Technologies, Clover Health Investments, and SoFi.

Earlier this week, Palihapitiya sold his personal stake in Virgin Galactic, cashing out a total of $211 million from 6.2 million shares, according to an SEC filing. He had begun selling shares in December, stating on Twitter at the time that he would need cash to help fund "several new projects starting in 2021."

According to the Wall Street Journal, citing sources, Palihapitiya has expressed interest in forming an additional group of biotech-focused SPACs in the future.

A former Facebook executive, Palihapitiya married his technology background and investing prowess to become a leading figure in the booming SPAC market. He has large followings on social media platforms like Reddit and Twitter, and is a regular on CNBC.

His following has become so robust that Twitch has approach him to use their live-streaming platform to make his business deal announcements, according to the Wall Street Journal. In a recent interview with Bloomberg, Palihapitiya said his social media savvy has helped him connect with a new generation of investors.

"Nobody's going to listen to [Warren] Buffett," he told Bloomberg. "Buffett doesn't have the energy to say what he said 30 and 40 years ago in 2021. And that's OK, he's basically earned the right to chill out and be the GOAT, but there have to be some other folks that take that mantle, take the baton and do it as well to this younger generation in the language they understand."