Heliad AG
FinLab AG: * FinLab AG and Block.one Announce $100 million Joint Venture to Accelerate Development of EOS.IO Projects in Europe
FinLab AG / Key word(s): Alliance/Funds Frankfurt am Main, 21 March, 2018 – Block.one, the developer behind the leading blockchain software EOS.IO, and FinLab AG (WKN121806 / ISIN DE0001218063 / ticker symbol: A7A.GR), one of the first and largest company builders and investors in Europe focused on the FinTech sector, today announced the signing of a letter of intent regarding the formation and capitalization of a new $100 million (EUR81 million) fund managed by FinLab, that will make strategic investments throughout Europe in projects that utilize the EOS.IO open-sourced blockchain software. FinLab will receive a market-standard management fee and carried interest participation.
“EOS.IO’s Delegated Proof of Stake (DPOS) approach has shown to vastly improve the speed and resiliency by which blockchain networks operate and scale,” says Stefan Schuetze, member of the FinLab management board. “FinLab is excited to partner with the company behind this fundamental innovation and looks forward to fostering development of projects enabled by EOS.IO software.” “We are excited to work with FinLab, a leading European tech investor, to grow EOS VC’s global reach,” said Brendan Blumer, CEO of Block.one. “We believe the EOS.IO open source software fundamentally enables new community driven business models, and we remain committed to investing in that future.”
About FinLab AG: Press contact:
21-March-2018 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
Language: | English |
Company: | FinLab AG |
Grüneburgweg 18 | |
60322 Frankfurt/Main | |
Germany | |
Phone: | +49 (0)69 719 12 80 – 0 |
Fax: | +49 (0)69 719 12 80 – 011 |
E-mail: | investore-relations@finlab.de |
Internet: | www.finlab.de |
ISIN: | DE0001218063 |
WKN: | 121806 |
Indices: | Scale 30 |
Listed: | Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Scale), Stuttgart, Tradegate Exchange |
End of Announcement | DGAP News Service |