Capital One Ventures Enters into Agreement to Invest in Inspirato, Forging a New Strategic Partnership

DENVER, Aug. 08, 2023 (GLOBE NEWSWIRE) -- Inspirato Incorporated (“Inspirato”) (NASDAQ: ISPO), the innovative luxury travel subscription brand, today announced that it has entered into a definitive agreement for a new $25 million convertible note investment from Capital One Ventures. The capital is expected to provide broad operating flexibility to Inspirato as it continues to enhance the luxury travel experience it delivers for its members.

"Through strategic investing, we look to harness the potential of innovative companies that could integrate well with Capital One’s business and infrastructure,” said Nathan Krishnamurthy, partner, Capital One Ventures. “With its access to extraordinary properties around the world, a well-developed technology footprint, and white glove service capabilities, Inspirato offers a unique membership for luxury travelers.” 

Inspirato members enjoy access to a portfolio of branded luxury vacation homes, accommodations at five-star hotel and resort partners, and custom travel experiences. Options span Europe’s best cities, chic American ski towns, exclusive Caribbean islands, African safaris, and tickets to iconic sporting and cultural events. Every Inspirato trip includes distinctive five-star personalized service, with pre-trip planning, expert local concierge, and housekeeping. 

“Inspirato is an innovator in the travel space, providing unique offerings and extraordinary service to its members, and we are thrilled to partner with them,” said Jenn Scheurich, Vice President of Capital One Travel. 

“Inspirato is focused on leveraging innovation to drive customer satisfaction and growth,” said Inspirato Co-Founder and CEO Brent Handler. “This investment enables us to set a global standard for luxury travel and continue enhancing our exceptional experiences to meet evolving consumer needs.”

Wachtell, Lipton, Rosen & Katz served as counsel for Capital One Ventures, and Morgan Stanley & Co. LLC served as financial advisor to Capital One Ventures. Wilson Sonsini Goodrich & Rosati served as counsel for Inspirato, and Moelis & Company LLC served as financial advisor to Inspirato. The issuance of the convertible note is subject to certain closing conditions, including the entry into a commercial agreement between Inspirato and Capital One prior to the closing, and the receipt of Inspirato shareholder approvals.