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RIT Capital Acquires a Stake at Cryptocurrency Exchange, Kraken
•Neither RIT Capital nor Kraken has disclosed any information.
•The amount of investment is still unknown.
•RIT Capital shows inclination towards fintech.
A prominent British investment trust, RIT Capital Partners, has recently gained possession of a stake in a major cryptocurrency exchange, Kraken. Formerly known as Rothschild Investment Trust, the faith promises dedicated service towards quoted securities and quoted special situations.
Investors Made Aware of the Stake During a Webinar
RIT Capital, established by Lord Jacob Rothschild, currently has a market capitalization of over $5 billion.
The trust is handled by J. Rothschild Capital Management Limited (JRCM). The trust was chaired by the founder, Jacob Rothschild himself, till 2019, after which he stepped down as chairman and director of the company. As per Coindesk, the investors involved in the trust were made aware of the stake during a webinar hosted by a London-based broker corporate advisory firm, Numis Securities, back in March.
The Amount of Investment or the Valuation of Shares Still to be Known
The only source of information -a note by Numis Securities posted that on April 12, does not clarify the investment size or the amount paid yet by RIT Capital. Neither the valuation of shares at which the deal was confirmed is made public. The director at Numis, Ewan Lovett-Turner, commented that the amount thought for the secondary market purchase by their newest investor was a pretty handsome sum. Kraken and RIT have still not disclosed or commented about the acquisition.
RIT Capital’s Large Investments Mostly Fintech Firms
Last year, RIT Capital also participated in a fundraising series led by Paxos and contributed a total of $142 million. Clearly, this vital investment trust has been taking an interest in the fintech industry. According to the latest financial reports, it is pretty evident that a considerable part of their investment was mainly towards fintech firms like NerdWallet, Brex, and so on.
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