Cascadia Capital Raises $150M SPAC and Eyes Pittsburgh Tech Acquisition, CEO Calls City 'Seattle 10–15 Years Ago'

Seattle investment bank Cascadia Capital raised $150 million for a SPAC, Cascadia Acquisition Corp., and is targeting a Pittsburgh tech company—citing local strengths in AI, robotics, automation and research from Carnegie Mellon and University of Pittsburgh. CEO Michael Butler, who has spent more time in Pittsburgh recently, said the city resembles Seattle 10–15 years ago and is poised for a tech boom.