In a significant move highlighting growing institutional interest in blockchain, VivoPower International PLC has partnered with South Korean asset manager Lean Ventures in a joint venture aimed at acquiring up to $300 million worth of shares in Ripple Labs. The venture, managed through VivoPower's digital asset unit Vivo Federation, seeks to provide South Korean institutional and retail investors access to Ripple shares at a discounted price.
VivoPower's strategic role involves procuring the shares and managing the dedicated investment vehicle. The company has already secured written approval from Ripple Labs to purchase an initial batch of preferred shares and is negotiating for more. Crucially, VivoPower anticipates receiving approximately $75 million in management and performance fees over three years from this venture without committing its own capital, gaining economic exposure to Ripple's potential upside.
The partnership underscores the importance of the South Korean market, a key region for Ripple due to its substantial number of XRP holders. This deal represents a sophisticated, equity-based approach to crypto investment by a non-crypto-native company, signaling a potential trend of traditional finance deepening its roots in the digital asset ecosystem beyond simple ETF investments.
