WEBVTT - Athena Technology CEO on SPAC Led by Women

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<v Speaker 1>This is Bloomberg Business Week with Carol Masser and Bloomberg

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<v Speaker 1>Quick Takes Tim Stinovic from Bloomberg Radio. This week, another

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<v Speaker 1>Spack went public on Wednesday. It's the Athena Technology Acquisition Corporation.

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<v Speaker 1>It's a two d fifty million dollar blank check company

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<v Speaker 1>co founded by our next guest, who also founded a

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<v Speaker 1>cybersecurity company, Extreme Solution. She is chair of that company.

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<v Speaker 1>She spent twenty two years in the military. So many chapters,

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<v Speaker 1>so impressive. Great to welcome phillis new How she's CEO

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<v Speaker 1>and co founder Athena Technology Acquisition on the phone in

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<v Speaker 1>New York City. Uh, phillis great to have you here

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<v Speaker 1>on Bloomberg Radio. I cut a litt bit of your

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<v Speaker 1>interview with our own Matt Miller earlier on Bloomberg Television. Um,

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<v Speaker 1>first of all, congratulations, the spaces crowded though, why is spack? Well,

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<v Speaker 1>thank you for having me. Yeah. So, you know, we've

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<v Speaker 1>deliberately created the company to target the spective in UH,

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<v Speaker 1>in which our diverse team has the knowledge experience in

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<v Speaker 1>our professional relationships. And we're all women, and we were

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<v Speaker 1>dedicated to ensuring that the women's benefit from being early

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<v Speaker 1>movers in the fact, uh that we were able to

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<v Speaker 1>achieve something that hadn't been done before, and so we

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<v Speaker 1>what we decided to do was we realized that it

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<v Speaker 1>was a lot of you know, people say, well the

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<v Speaker 1>market is getting saturated, but we we we realized is

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<v Speaker 1>that we had something that was very different than what

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<v Speaker 1>you see with most facts. How is it different just

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<v Speaker 1>because of the so many women involved or well no,

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<v Speaker 1>not necessarily. Well we're all yeah, that is one thing.

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<v Speaker 1>We all women. But here's the thing. Here's a takeaway.

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<v Speaker 1>When we look at we span across industries from investment banking,

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<v Speaker 1>the private equity to VC to founders to creators. We

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<v Speaker 1>that we have three um women in the fact that

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<v Speaker 1>started businesses from nothing and are doing in a billion

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<v Speaker 1>of revenues. So we so we believed that founders like

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<v Speaker 1>to talk to founders, We understand, and we believe that

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<v Speaker 1>because of the proprietary Gale float that we've been able

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<v Speaker 1>to put together, we believe that ore aspect is very

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<v Speaker 1>different because it was strategically done to win. And I

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<v Speaker 1>believe that any company that we bring forward will benefit

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<v Speaker 1>from from this group of women that we've been able

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<v Speaker 1>to put together. And I just want to put out

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<v Speaker 1>some of the names. Stacy Abrams, k Coplevitz. Uh, she was,

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<v Speaker 1>of course former USA Networks founder. Uh, you have um, gosh,

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<v Speaker 1>I'm going through the list. It's just appreciate. Yes, Kristin Dickey,

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<v Speaker 1>former maaging director at black Rock. You you're right, they

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<v Speaker 1>cross uh different world, you know, different parts of our

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<v Speaker 1>investment world, our business world. Um. Having said that, though,

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<v Speaker 1>so obviously you can go anywhere when it comes to investments,

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<v Speaker 1>is there any criterion particularly that you think will be

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<v Speaker 1>a common theme among the investments that you're looking for. Well, again,

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<v Speaker 1>this this goes back. So if we if we're we're

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<v Speaker 1>targeting you know, revenue generating early you know, come to

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<v Speaker 1>their stays and sin tech cyber security. Now, what you

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<v Speaker 1>have been seeing is a lot of companies in the cyberspace.

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<v Speaker 1>We again, we we've we've um strategically brought people into

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<v Speaker 1>this fact that had the cyber expertise. Uh. It's a

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<v Speaker 1>it's a field that is obviously one that's uh not

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<v Speaker 1>as complicated as people think, but it is a if

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<v Speaker 1>you look at the growth, we've had six thousand per

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<v Speaker 1>cent increases cyber attacks since COVID nineteen and so as

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<v Speaker 1>a result of that, we wanted to capitalize off the

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<v Speaker 1>tail winds that we're coming. And we realize that we

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<v Speaker 1>have the level of expertise in the experience, and we

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<v Speaker 1>have founders and creators that have done this before. So

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<v Speaker 1>we believe that this was this was really one of

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<v Speaker 1>the things we wanted when we looked at the criteria.

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<v Speaker 1>Who do we have on the team that have deep

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<v Speaker 1>level of expertise and experience? Listen, and one think I've

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<v Speaker 1>got to ask you, uh, when it comes to diversity.

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<v Speaker 1>And you know, we know that companies, institutions, investments all

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<v Speaker 1>do better when you've got a diversity of thoughts. So

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<v Speaker 1>and I asked this of all the institutions, uh, and

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<v Speaker 1>leaders that come on and especially those that are largely

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<v Speaker 1>still white men, are you, though, concerned that you will

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<v Speaker 1>be missing out by not having diversity of voices in

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<v Speaker 1>other words, having some men involved in terms of making

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<v Speaker 1>some of the investment decisions. It's kind of the reverse thing,

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<v Speaker 1>right because I'm often asking guys like, where's the diversity, um,

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<v Speaker 1>But you know what I'm saying, oh yeah, uh, And

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<v Speaker 1>and I would tell you, um, even though we are women,

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<v Speaker 1>all women with aspect, we have had advisors and are

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<v Speaker 1>you know UM trusted advisors that we've asked reached out

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<v Speaker 1>to and other spects. Bets Cohen is one of our

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<v Speaker 1>spect sponsors where she has a great team. They're not

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<v Speaker 1>all women, and so they've been in our corner a

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<v Speaker 1>hundred percent. We understand we're not targeting just women owned

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<v Speaker 1>businesses were you know, that's that's were ideally we would

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<v Speaker 1>hope if that would be a great opportunity that we

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<v Speaker 1>could leverage. But we've realized that UM all voices at

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<v Speaker 1>the table matters, and we're just all women lead. But

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<v Speaker 1>it doesn't mean that we're not bringing all voices to

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<v Speaker 1>the table, if that makes sense. Yeah, no, absolutely. Hey,

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<v Speaker 1>I do also wonder there's so many spacts out there.

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<v Speaker 1>They've just taken off so much in the past year.

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<v Speaker 1>How concerned are you about a lot of money be

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<v Speaker 1>its back investors or private equity that they're all kind

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<v Speaker 1>of chasing similar targets and what that means for the

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<v Speaker 1>potential to really overpay for a target. We just have

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<v Speaker 1>about fifty seconds, then we'll come back and talk some more. Okay, Well,

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<v Speaker 1>I would say you this this goes back to what

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<v Speaker 1>I believe our team most important differentiator is our outstanding

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<v Speaker 1>deal sourcings networks that we developed just for this fact,

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<v Speaker 1>and our partnership of other organizations that provide a unique

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<v Speaker 1>properatary deal flow and and and so we believe that,

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<v Speaker 1>you know, there are a lot of companies that are

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<v Speaker 1>not on others facts radar, and so these are companies

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<v Speaker 1>in that cyberspace. These are companies that are AI, these

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<v Speaker 1>are companies we have deep relationships with some of the founders,

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<v Speaker 1>you know, and so we we we understand that there's

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<v Speaker 1>a lot of spects up there right now, but we

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<v Speaker 1>believe that we we strategically put this together so that

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<v Speaker 1>we knew that we have the partnership already. One of

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<v Speaker 1>the areas that you mentioned cyber and that's certainly something

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<v Speaker 1>that you know a lot about having founded a cybersecurity

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<v Speaker 1>firm as well. Um, I do wonder what types of

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<v Speaker 1>cyber firms you're going to be looking to invest in,

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<v Speaker 1>I asked, because looking at a couple of the cybersecurity

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<v Speaker 1>etf that are out there, I Shares global X overall,

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<v Speaker 1>the group is down. UM, you know, investors not so keen.

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<v Speaker 1>It seems like on some of those names there's a

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<v Speaker 1>lot of players out there, So what are you going

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<v Speaker 1>to be looking for? Well, so if we go back

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<v Speaker 1>to as I stated early about you know, cyber attacks

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<v Speaker 1>being up by six thousand percent um, you look at

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<v Speaker 1>companies that perform vulnerability assessments endpoint solutions. We're looking at

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<v Speaker 1>the type of companies that have integrated cyber analytics into

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<v Speaker 1>their platforms, which is really given the predictive UH analytics

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<v Speaker 1>in terms of potentially where and where an attack may happen.

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<v Speaker 1>We're looking at cyber operational intelligence platforms. So I think, UH,

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<v Speaker 1>understanding the market and knowing those companies that are out

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<v Speaker 1>there that exist, that are doing really have some incredible

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<v Speaker 1>solutions are the ones. So we would be looking at

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<v Speaker 1>based off of where we see the potential risk in

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<v Speaker 1>our global UH you know cyber UH landscape as a whole.

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<v Speaker 1>And when it comes to fintech, I really feel like

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<v Speaker 1>this is an area, you know, whether it's the you know,

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<v Speaker 1>we we've talked a lot about some of the online

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<v Speaker 1>trading platforms. That certainly has been one of our big

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<v Speaker 1>stories this week, but when you see fintech and disruption innovation,

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<v Speaker 1>there's a lot going on in that space. Any idea

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<v Speaker 1>in terms of maybe the types of companies that you guys.

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<v Speaker 1>Obviously you can't show your hand at this point, but

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<v Speaker 1>I just wonder parts of the area of the fintech

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<v Speaker 1>space that you find interesting. Well, again, we found finding

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<v Speaker 1>a lot of the fintech integration platforms that integrate into

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<v Speaker 1>UM you know that our user friendly for you know,

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<v Speaker 1>for a lot of the financial institutes. But more importantly,

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<v Speaker 1>if you look at companies where you've had a growth

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<v Speaker 1>um in terms of UH. You know, when I look

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<v Speaker 1>at platforms that I I around the fintech area, I

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<v Speaker 1>would focus UH and and I would tell you a

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<v Speaker 1>lot of companies are focusing on those companies that have

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<v Speaker 1>a component of privacy uh financial platforms. And what do

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<v Speaker 1>I mean by that? You look at uh some of

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<v Speaker 1>the you know, privacy UH platforms that are now integrating

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<v Speaker 1>into the financial most people are still a concerned about

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<v Speaker 1>the risk a loss of data or the sharing of

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<v Speaker 1>data and so those data plat those privacy platform that

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<v Speaker 1>integrate into fintech solutions or what we what we would

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<v Speaker 1>be hard again you can see sort of a trend

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<v Speaker 1>with us. We're looking at more you know, privacy, security, financial,

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<v Speaker 1>but all in that area, yeah, which which is certainly

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<v Speaker 1>on all of our radar considering some of the big uh,

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<v Speaker 1>you know, cyber attacks that we've certainly seen. We are

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<v Speaker 1>our self Bloomberg, one of our reporters doing a story

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<v Speaker 1>about all of the surveillance cameras and and the hackavists

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<v Speaker 1>that have been able to kind of expose to the

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<v Speaker 1>world how many cameras are out there and how easy

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<v Speaker 1>it is to access. You have you and your team

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<v Speaker 1>have roughly two years I believe to like buy up

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<v Speaker 1>names um with this back. How quickly do you think

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<v Speaker 1>you can put the money to work or or how

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<v Speaker 1>quickly do you plan to put it to work? Well,

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<v Speaker 1>I We'll tell you this. We intended to talk to

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<v Speaker 1>companies day one of our eligibility to do that, and

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<v Speaker 1>we certainly have. Again, we put this team together strategically

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<v Speaker 1>understanding that the SPAC market is crowded. There were four

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<v Speaker 1>hundred spacts looking for companies to take public. A lot

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<v Speaker 1>of high profelemends are jumping in as investors, but not

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<v Speaker 1>every spect has the management team that offers the combination

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<v Speaker 1>of financial operational expertise UH that we bring to the table.

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<v Speaker 1>So we believe that based off of the proprietary pipeline

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<v Speaker 1>that we've developed that we'll be talking to companies day

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<v Speaker 1>one and hopefully be announcing the combination fairly soon. We'll

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<v Speaker 1>look forward to it. I'm really curious to see the

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<v Speaker 1>companies that you guys have on your radar. Hey, just

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<v Speaker 1>one last quick question, just got about thirty seconds all

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<v Speaker 1>of you who are involved, is are all of you

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<v Speaker 1>investing in the fund? Or or how is it you

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<v Speaker 1>are one of our advisors are also investors and that's uh,

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<v Speaker 1>it's just great to see women to be able to

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<v Speaker 1>participate and uh economically as well. Agreed. Looking forward to

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<v Speaker 1>hearing more UM and especially where you you guys ultimately

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<v Speaker 1>place those investments. Phillis, thank you so much. Good luck.

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<v Speaker 1>Phillis new House, CEO and co founder of Athena Technology

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<v Speaker 1>Acquisition Corps joining us on the phone in New York City,