Overview
- Vivo Federation and Seoul-based Lean Ventures executed a definitive joint venture to create a vehicle aiming to acquire $300 million of Ripple Labs shares for Korean investors.
- VivoPower says it has written approval from Ripple to buy an initial tranche of preferred shares, and it is negotiating bilateral purchases with institutional holders to reach the target.
- Lean Ventures will arrange the vehicle and distribution in South Korea and has canvassed interest from institutional and retail investors.
- VivoPower projects about $75 million in management and performance fees over three years under the structure, which does not require using its own balance sheet capital.
- VivoPower shares rose roughly 12–13% intraday after the announcement, and the company says due diligence continues on a potential 20% K‑Weather stake as fundraising and share purchases progress.