Thayer Ventures will list a subsidiary brand on the public markets in an attempt to raise up to $175 million.
The company, known as Thayer Ventures Acquisition, will offer 17.5 million units at $10 a piece, giving it a market value of $219 million, according to a report on NASDAQ.
Thayer was born in 2009 and specializes in early-stage investments in travel and transportation startups, including Mews, Hipmunk, Duetto, Adara, Sonder, Traxo and Liftopia.
The IPO move for the subsidiary will give it the opportunity to merge or acquire businesses that would "benefit from access to the public markets," a filing to the Securities and Exchange Commission says.
Startups have "generally benefitted from secular growth and adoption of their innovations, but the vast majority remain independent and have not experienced outright exit events," it continues.
Thayer Ventures Acquisitions will be fronted by Thayer's managing directors Chris Hemmeter and Mark Farrell, both acting as co-CEOs.
The mothership raised Fund III to the tune of $80 million earlier this year.
Speaking at the time about the impact of COVID-19 on the investment sector, Hemmeter said: "Our investment horizons are five to seven years, so investing in companies now that are solving real problems that have significant contributions to make to the productivity story of travel suppliers and so forth, this is a very good time to do that.
"We're not sensitive to the quarter-by-quarter performance; we're really interested in building companies over the long term. And then we just fundamentally do not believe that travel is dead."