- Vivo Federation has secured $300 million in Ripple Labs stock via a South Korean backed fund.
- VivoPower anticipates a $75 million profit over three-years without investing its own capital.
VivoPower International has acquired digital assets through Vivo Federation. finalized Lean Ventures has agreed to buy Ripple shares worth $300 million. Lean Ventures is a South Korean licensed asset manager and will be managing a special investment vehicle. The firm manages the portfolios of South Korean government officials and limited partners.
Vivo Federation is now able to manage and purchase Ripple shares as part of the new partnership. RippleLabs has given formal approval to the purchase of an initial lot of preferred shares. Institutional investors are being approached to increase this investment.
Adam Traidman is the Chairman of VivoPower’s Advisory Council. He commented about this partnership.
“We are delighted to have entered into this partnership with Lean Ventures, given its established status and reputation in South Korea.”
Korean Market Displays a Surging Ripple Appetite
K-Weather has also expressed an interest in joining the fund. On November 11, we reported VivoPower was able to acquire a 20% share of the business after the firm signed a heads-of-agreement. Vivo Power states that they are in the final stages due diligence for the K Weather transaction.
Traidman believes that South Korea’s market is an exception due to the size of its population. XRP Both by value and volume. This structure, he said, offers South Korean retail and institutional investors access to Ripple shares and XRP below market rates.
Chris Kim, Managing partner of Lean Ventures, confirms that the investor demand for South Korea is still strong. He said,
“There is significant appetite in South Korea amongst institutional and retail investors seeking to gain exposure to Ripple Labs shares. We are honored to be working with VivoPower and look forward to a longstanding and prosperous partnership.”
VivoPower Earns $75M of Economic Gain
VivoPower can earn $75,000,000 over a three-year period in performance and management fees. This revenue model revolves around the assets managed, and does not require that VivoPower invest any of its capital.
VivoPower’s digital asset exposure has been boosted by this activity. The company began its digital asset exposure on October 1. raised An equity offering of $19 millions at the rate of $6.05 per shares, which is higher than market rates. These funds are being used in part to expand digital asset plans and pay down existing debt.
Caret Digital is expanding as well. The company expanded on September 16th. announced The company plans to increase the size of its mining fleet. Tokens will be mined and exchanged for the XRP. VivoPower claims that this allows them to purchase XRP for a discount of approximately 65% compared with direct market purchases.
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Source: www.crypto-news-flash.com
