VivoPower Establishes $300M Joint Venture to Purchase Shares in Ripple Labs
Joint Venture Announcement: VivoPower has partnered with Lean Ventures to create a joint venture aimed at acquiring up to $300 million in Ripple Labs shares, targeting institutional investors interested in Ripple exposure without direct XRP trading.
Market Reaction: Following the announcement, VivoPower's shares rose over 13%, reflecting positive market sentiment towards the Ripple-focused investment strategy.
Management and Oversight: The investment vehicle will be managed by Lean Ventures, which adds institutional credibility, while VivoPower's digital asset division, Vivo Federation, will oversee the sourcing and purchase of Ripple shares.
Revenue Expectations: VivoPower anticipates generating approximately $75 million in management and performance fees over three years, contingent on the fund's size and performance, with strong interest from Korean investors in Ripple-related products.
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