VivoPower partners with Lean Ventures in $900M Ripple and XRP-linked deal
South Korean interest in Ripple Labs grows as new deal opens doors to wider institutional investment in digital assets.
Key Takeaways
- VivoPower's Vivo Federation, in partnership with Lean Ventures, will initiate a $300 million purchase of Ripple Labs shares.
- The deal’s economic exposure has been benchmarked against the XRP market, equating to a notional value of about $900 million.
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VivoPower announced that its digital asset unit, Vivo Federation, has been mandated by Lean Ventures to source $300 million worth of Ripple Labs shares for the South Korean asset manager.
This means that Vivo Federation will arrange the $300 million purchase of private Ripple Labs shares on behalf of Lean Ventures, which will hold them through a dedicated investment vehicle for investors.
The transaction represents economic exposure comparable to approximately 450 million XRP tokens, with a notional value of around $900 million at the time of the announcement, as noted by VivoPower.
Under the arrangement, Vivo Federation will earn management fees and performance carry, targeting a net economic return of roughly $75 million over three years based on the initial assets under management.
Lean Ventures expects to increase its assets under management. The company said it had already gauged interest from South Korean institutional and retail investors, such as K-Weather.
The latest development follows VivoPower’s announcement of its collaboration with Lean Ventures to acquire $300 million in Ripple Labs shares.
