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German VC Invests in Ripple in Anticipation of Its IPO

Per a press release yesterday, German venture capitalist tokentus investment AG has invested in US blockchain payments firm Ripple.

According to the company’s statement, it made a $100,000 investment in Ripple via a Special Purpose Vehicle (SPV), a legal entity created to allow investors under a certain threshold to pool funds together into a single entity.

Notably, it is not initially a direct investment. However, tokentus CEO Oliver Michel reveals that when Ripple goes public via an Initial Public Offering (IPO), the SPV will be dissolved, and its Ripple shares will be transferred to tokentus. The tokentus chief asserted that the firm’s investment would put it in a good position in anticipation of Ripple’s IPO.

“In our opinion, Ripple is among the most established and significant companies in the blockchain space,” Michel said. “According to the company, an IPO is planned in perspective, in which we naturally want to be an investor. As part of its IPO, the SPV would be dissolved and its shares of Ripple would be registered and directly transferred to tokentus. This puts us in a good position.”

Meanwhile, Benedikt Schulz, the company’s investment manager, let slip that the firm saw promise in the XRPL as a smart contract platform.

(By Okoya David)

XRP XRP $1.45
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