Coinsilium Group, a startup firm that invests in blockchain technology companies, plans an August initial public offering on the Alternative Investment Market of the LSE. With the ticker symbol “COIN”, the AIM listing will be the world’s first in the bitcoin and blockchain space, beating out big bitcoin firms Coinbase and itBit.
The London-based company intends to use the IPO funds, projected to be around $3 million, to continue investing in and supporting early-stage companies, as well as expand existing holdings in startups in its portfolio.
Coinsilium’s CEO Eddy Travia told AllCoinsNews about the timing of the IPO:
It was on our road map about a year from now when we – Hakim Mamoni and I – started discussions with our London-based partners, now directors of Coinsilium. Their experience with public markets, specially AIM, has been very valuable throughout the process.
In regard to being the first Blockchain tech IPO, Travia said:
It was not our main focus but I think timing is right in the sense that up to now 2015 has been the year of increasing interest from Wall Street and global financial institutions into digital currencies and blockchain technology. We wish to contribute to the growth of this industry while playing a major role in its development.
Travia and CTO Mamoni started their bitcoin startup investment two years ago with Seedcoin, the world’s first bitcoin incubator, which raised money in bitcoin and invested in six blockchain technology startups.
In 2014, Coinsilium was formed by Seedcoin’s founders, along with Cameron Parry and Malcolm Palle, in order to pursue more ambitious plans. The new venture has nearly doubled the number of companies in its portfolio and is providing a range of services to its blockchain startups that include corporate advisory, commercial development, investment facilitation, market research and investment relations.
Coinsilium has a become a blockchain technology keiretsu, with holdings in payment gateways CoinSimple and SatoshiPay; wallets Hive and bitSIM; exchanges and platforms mexbt, btc.sx, and the Real Asset Co.; application plays Factom and neuroware, and security solutions firm Rivetz.
The blockchain tech investment company has identified “cornerstones” to its business model, namely acceleration, development, investment, and illumination.
In coming to AIM we wish to bring blockchain technology into the focus of a much wider range of investors. Retail and non-specialist institutional investors should have the opportunity to invest in this highly disruptive space. Our business and investment model is centered on supporting early-stage companies through acceleration, development, investment and communication. We have been investing and helping startups develop, through Seedcoin, for more than 2 years in an industry which saw its first sizeable investments 3 years ago. We are perfectly positioned to optimize operational synergies among the companies in our portfolio, generate revenues and help build the future leaders of the blockchain economy.
Coinsilium’s startup accelerator program, Block Chain Space, provides a platform for early-stage blockchain startups, to receive business development training and to hone their entrepreneurial skills. The company plans to take equity stakes in those startups participating in Block Chain Space and will also offer partnership and sponsorship opportunities to supporting technology partners.
In terms of development, Coinsilium plans to develop synergies amongst its investees to improve products and services as well as place license and distribution arrangements for consumer product rollout and revenue generation.
In regard to illumination, the firm seeks to promote and help develop its blockchain tech companies through strategic communications, educational resources and events, and content and marketing strategies.
Seedcoin is our legacy brand and is already known in the bitcoin/blockchain startup environment. Block Chain Space, the startup accelerator is a new brand we aim to establish as the leading provider of acceleration programs focused on blockchain technology. It is necessary for us to assert the fact that we are providing additional, separate services such as corporate advisory, consulting services under the Coinsilium brand. We wish Coinsilium corporate clients to understand that while we have expertise in the startup development sector it is only one of our areas of operations and we have a wide range of services we can provide to global, billion-dollar turnover companies.
AllCoinsNews asked Travia whether movement into blockchain tech by banks like Citi, Barclays, Santander and UBS played a role in Coinsilium’s drive for an IPO. Travia answered:
We started working on the IPO before these banks’ announcements. Their increased interest confirms our early assumption that blockchain technology would naturally attract large institutions from various sectors.