VivoPower to originate 450M underlying XRP tokens worth $900M for Lean Ventures

VivoPower (VVPR) International PLC’s, digital asset unit, Vivo Federation, as part of a recently announced joint venture partnership, has been engaged to originate an initial $300M worth of Ripple Labs shares for its South Korean asset management partner, Lean Ventures, an established and licensed South Korean asset manager, headquartered in Seoul. This translates to approximately 450 million underlying XRP tokens, worth an estimated $900M at the current XRP spot price. Vivo Federation will receive a share of management fees and performance carry, targeting a net economic return for VivoPower of approximately $75M over 3 years based on an initial $300M of assets under management. Lean Ventures intends to grow assets under management beyond this initial amount as part of the partnership. Lean Ventures will arrange for the establishment of a dedicated investment vehicle to acquire and hold an initial target of $300M of Ripple Labs shares sourced by Vivo Federation.