VivoPower International PLC has announced a strategic collaboration with Lean Ventures, a prominent South Korean asset manager, to establish a joint venture focused on acquiring shares from Ripple Labs. The agreement enables Vivo Federation, VivoPower’s digital asset arm, to oversee the procurement of shares for a dedicated investment vehicle aimed at gathering an initial $300 million in Ripple Labs shares. With the involvement of Lean Ventures, which already manages funds for the South Korean government and other institutional partners, there is considerable interest among both institutional and retail investors in South Korea.
VivoPower has secured written approval from Ripple Labs for the purchase of an initial tranche of preferred shares and is in discussions to acquire additional shares valued at approximately $300 million. The financial structure of this joint venture is designed to benefit VivoPower significantly, projecting management and performance fees of around $75 million over the next three years, based on the initial assets under management.
Adam Traidman, Chairman of VivoPower’s Advisory Council, expressed enthusiasm about the partnership with Lean Ventures, noting South Korea’s crucial role as a key market due to its status as the largest holder of XRP tokens globally. He emphasized that the joint venture provides an opportunity for qualifying investors in South Korea to gain access to Ripple shares and XRP at discounted rates.
Chris Kim, Managing Partner of Lean Ventures, highlighted the robust interest from South Korean investors in Ripple Labs shares, indicating a strong appetite for exposure in the digital asset space. The collaboration promises to facilitate greater access to Ripple’s value and XRP tokens for South Korean investors.
Founded in 2014 and publicly traded since 2016, VivoPower operates across multiple global regions and is recognized as a sustainable energy solutions provider. Its operations include various business units, including Tembo, focusing on electric solutions, and Caret Digital, specializing in renewable power applications. The joint venture with Lean Ventures marks a significant step in VivoPower’s strategy to enhance its presence in the digital asset market, leveraging Ripple’s prominence in the blockchain landscape.