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Vela Technologies’s BlockchainK2 invests US$500,000 in blockchain trading network

BlockchainK2’s investment closes off an Envexergy seed round financing and adds to previous investments of US$3.1mln earlier in the year

Blockchain
Envexergy provides global access and secondary trading for alternative investments

Vela Technologies PLC’s (LON:VELA) BlockchainK2, in which it holds a 1.8% stake, has invested US$500,000 in blockchain investment and trading network Envexergy Inc.

In its own announcement, BlockchainK2 said Envexergy, also known as RealBlocks, provided global access and secondary trading for alternative investments.

BlockchainK2’s investment closes off an Envexergy seed round financing and adds to previous investments of US$3.1mln earlier this year from various venture capital funds including Science Inc., Morgan Creek Digital, Zelkova Ventures, Ulu Ventures, and Cross Culture Ventures.

“RealBlocks' tokenization solution enables more efficient capital raising, more cost-effective compliance, simpler documentation and, most importantly, offers secondary trading of illiquid alternative assets”, said Sergei Stetsenko, a director of BlockchainK2.

Perrin Quarshie, RealBlocks chief executive, added: "We are excited to have BlockchainK2 join a group of investors that supports RealBlocks' mission to open alternative investments to investors around the world. There is growing demand from investors and financial intermediaries to access the potential of the alternative investment market. Through the support of BlockchainK2 and others, RealBlocks is creating a new way to reach these opportunities".

In early trading on Friday, Vela's shares were 0.5% lower at 0.09p.

--Adds share price--

Quick facts: Vela Technologies

Price: 0.075 GBX

AIM:VELA
Market: AIM
Market Cap: £1.31 m
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