VivoPower and Lean Ventures Acquire $300M in Ripple Labs Shares
- Vivo Federation and Lean Ventures will jointly acquire $300 million in Ripple Labs shares for South Korean investors.
- Lean Ventures, a licensed South Korean asset manager, will establish a dedicated investment vehicle for the acquisition.
- Vivo Federation will manage the acquisition and has received approval from Ripple Labs to purchase preferred shares.
- VivoPower is expected to earn $75 million in management and performance fees over three years from this venture.
- This structure allows VivoPower exposure to Ripple Labs and XRP upside without using its own capital.
- VivoPower’s shares increased nearly 12% in early Friday trading.
Vivo Federation’s partnership with Lean Ventures enables a substantial investment in Ripple Labs, providing VivoPower with potential financial benefits from Ripple Labs and XRP without capital expenditure. The company’s stock rose by nearly 12% following this announcement.
Source (3.2)https://cryptobriefing.com/ripples-labs-shares-joint-acquisition/?rand=59535
