Fatfish lands 20pc of ‘blockchain fund of funds’ after reeling in a discount
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Fatfish Internet Group has closed a deal to buy 20 per cent of ‘blockchain fund of funds’ wannabe Epsilon Capital for the discounted price of $US450,000.
The crypto investor (ASX:FFG) announced the corporate spinout in May, saying it would buy 10 per cent for $500,000.
But it’ll get a $50,000 discount on that fee and an extra 10 per cent stake for providing “support and services to incubate the founding of Epsilon”.
The company has been spun out of Fatfish and is run by the parent’s director of crypto financial markets, Phillip Lord.
Epsilon Capital wants to set up a global fund of funds that invest in venture capital firms and funds that have made crypto and blockchain investments.
The idea is to give traditional family offices or institutional investors an easy way to invest in the crypto sector.
It’s not clear when the startup will start looking for funds to invest, or when it will begin investing those funds.