VivoPower establishes joint venture to acquire $300M in Ripple Labs shares, stock jumps 12%
VivoPower's Vivo Federation partnered with Lean Ventures to acquire $300M in Ripple Labs shares for South Korean investors.Summary
VivoPower International PLC, transitioning into an XRP-focused enterprise, announced a joint venture through its Vivo Federation unit with Lean Ventures to acquire $300 million worth of Ripple Labs shares. Lean Ventures, a licensed South Korean asset manager, will establish the investment vehicle, while Vivo Federation will manage the acquisition and has received approval from Ripple Labs for an initial batch of preferred shares. This structure allows VivoPower to gain financial exposure to the upside of Ripple Labs and XRP without deploying its own capital, while expecting to earn $75 million in fees over three years based on the assets under management. Following the announcement, VivoPower's stock surged nearly 12% in early Friday trading.
(Source：Crypto Briefing)