First Growth Funds leads crypto investment in CCP Technologies
Link copied to
Special report: First Growth Funds has added another company to its investment stable after leading a strategic investment in CCP Technologies.
The blockchain and cryptocurrency investor (ASX:FGF) has seen promise in internet-of-things monitor CCP Technologies (ASX:CCP), a business providing tech to measure “critical control points”, whether that’s temperature levels for food safety or electricity voltage.
Its technologies can track important data like commercial fridge temperatures and report these back to managers via their phones.
First Growth has led a strategic investment in CCP with fellow investor the Penta Global Blockchain Foundation, a company which helps blockchain technology with existing IT systems.
The investment will see the CCP raise of $861,000 through the issuing of 43 million shares to these investors. It is also one of the first times a digital currency has been invested directly in an ASX company, with Penta’s investment coming in the form of a token.
Penta will be investing with its “Penta” tokens, to the value of A$561,247 equivalent. First Growth Funds led the investment and has also invested directly from its balance sheet, as well as partnering with Penta on the deal.
Executive director of First Growth, Anoosh Manzoori, said now was the perfect time to invest in CCP’s potential, with the company already having “fully developed” its technology.
The fund’s interest in CCP Technologies complements its existing portfolio of blockchain, cryptocurrency and internet-of-things-focused businesses, including a portfolio of eight cryptocurrencies from a number of industries including health care, financial and banking, and high tech security.
Manzoori said CCP’s network of partners, including Vodafone and Sigfox, showed the significant growth potential of the company.
This special report is brought to you by First Growth Funds.
This advice has been prepared without taking into account your objectives, financial situation or needs. You should, therefore, consider the appropriateness of the advice, in light of your own objectives, financial situation or needs, before acting on the advice.
If this advice relates to the acquisition, or possible acquisition, of a particular financial product, the recipient should obtain a disclosure document, a Product Disclosure Statement or an offer document (PDS) relating to the product and consider the PDS before making any decision about whether to acquire the product.