Thayer Ventures will merge with exclusive travel club service Inspirato to create a public listing via a Special Purpose Acquisition Company (SPAC).
The estimated value of Inspirato as a result of the IPO will be $1.1 billion.
The company has more than 385 upmarket vacation homes on its books and works with 500+ hotel and resort partners to provide inventory for its membership program.
It expects to handle around $200 million in annual revenue by the end of 2022.
CEO Brent Handler is credited by many as one of the pioneers of the "destination club" sector in the travel industry.
Upmarket travelers get access to exclusive private homes or hotel units on resort properties, organized under a membership program that includes services and other luxury elements of a trip.
He launched Exclusive Resorts with his brother Brad in 2002, before selling a majority of the business to AOL's Steve Case in 2004.
After quitting that business in 2009, they launched Inspirato in 2011 and embarked on a new version of the destination club model whereby they rent the properties and lease them back to travelers for the period of a trip.
The company has since gone on to raise almost $80 million in funding.
Handler says: "With this announcement, we are well positioned to expand our vision of revolutionizing luxury travel through our simple and intuitive consumer subscriptions."
Inspirato is expected to trade on the Nasdaq using the ticker "ISPO".
Co-CEO of Thayer Ventures and new board member for Inspirato, Chris Hemmeter, says: “As a travel focused investment platform with an appetite for disruptive hospitality themes, we could not have found a better merger partner than Inspirato.
"Inspirato is creating a new category in the travel space with its combination of market segment focus, a powerful supply aggregation engine and network-effect subscription business model. We believe this company will continue to be a leader in the luxury lifestyle sector for decades to come."
Thayer has previously invested in luxury apartment rental service Sonder.
* Check out this interview with Handler, recorded for the How I Got here podcast in September 2020.