Singapore tokenization startup Trovio merges with Sydney digital asset firm TCM to create $ 200 million crypto firm

0
Sydney digital asset manager TCM Capital has partnered with Singapore-based digitization, tokenization and provenance services firm Trovio to create the Trovio Group in deal that values ​​the entity of cryptocurrency merged to $ 200 million.

An oversubscribed merger raise, led by Ellerston Capital, Sun Hung Kai Strategic Capital and Amherst Holdings, shelled out $ 20 million along the way to further enhance Trovio’s digital fund offerings as part of plans to launch a number of new fund strategies in early 2022 The company also has key hires in the technology and consulting divisions in its plans.

Trovio Group CEO Jon Deane said the new business plan aims to provide businesses with access to digital assets and the Web 3.0 ecosystem in the Asia-Pacific region, as well as investment products from institutional quality for this new asset class.

The merger combines Trovio’s business technology with TCM’s institutional infrastructure and distribution.

“The Trovio Group brings together two world-class companies, creating a new type of business designed for the digital economy and Web 3.0. One who understands emerging trends and technology risks and opportunities within the ecosystem being created, ”said Deane.

“A company that can offer our customers the opportunity to interact and benefit from the future growth and commercialization of the digital economy. Our view is that all assets will eventually be processed in a digital format, and there is an opportunity for those who leverage technology solutions to interact with this ecosystem, as well as the ultimate adoption of the technology as a class. full assets.

As part of the merger, the Australian feeder fund, Digital Native Assets, will be rebranded in line with the larger group as TCM Digital Asset Fund Australia (TCM DAF Australia).

Trovio raised A $ 6 million in January this year, to A $ 26 million after valuation.

Share.

Comments are closed.