CCV-backed Perfect, a beauty tech solutions provider, went public via a SPAC merger with Provident Acquisition in a $1bn deal. Investors in PIPE included Chanel, CyberLink, Shiseido and Snap. “Perfect’s global leadership in AR and AI technology, its proven track record of success in working with the world’s leading beauty brands, its high revenue growth and expanding profit margins, and its attractive valuation make it a perfect fit for our business combination. Leveraging our team’s expertise in founding and building businesses to large scales and our extensive network in the beauty industry, we are committed to working together with Perfect’s highly experienced management team to expand its market reach, develop new verticals, extend market leadership, and deliver superior returns for its shareholders," Michael Aw, Provident CEO. On October 25,2022, Provident’s shareholders approved the $1bn merger.