Vivopower International PLC, a London-based sustainable energy and digital asset company, announced it has entered into a joint venture agreement with South Korean firm Lean Ventures to acquire and hold shares. Ripple Labs.
Vivopower recently received written approval from Ripple Labs to acquire the initial tranche of preferred shares Ripple Labs and is currently in bilateral negotiations to acquire additional shares. Ripple Labs for institutional shareholders Ripple Labs worth approximately $300 million,” Vivopower explained.
Under the terms of the document, Lean Ventures will create a specialized investment fund focused on an initial investment of $300 million in shares. Ripple Labs, while Vivopower’s digital assets division, Vivo Federation, will source and acquire these shares. Lean Ventures has already attracted interest from qualified South Korean institutional and retail investors.
The structure of this agreement allows Vivopower to benefit economically from any future increases in value Ripple Labs and underlying assets XRPwithout investing capital from its own balance sheet, they stated Vivopower.
Vivopower expects to receive management fees and profits from Vivo Federation’s operations, with a target of net economic profit of $75 million over three years.