After a year unlike any other for SPACs in 2020, a vast majority will spend this year on the hunt for their perfect target company — something that could leave many scrambling in an ultra-competitive environment while also disrupting the venture capital market.

Last year saw 250 special purpose acquisition companies — SPACs — undertake an IPO, over four times more than the previous years, according to data from SPACInsider. However, more than 200 of those SPACs are still seeking target companies to put into their shell, something most have about two years to do before the money goes back to investors. READ MORE