EOS Network Ventures backs Spirit Blockchain Capital in major funding round

Vancouver-based Spirit Blockchain Capital (SBC) has secured a substantial investment from EOS Network Ventures (ENV) in its recent funding round, marking a significant milestone for the innovative player in the blockchain and tokenization space.

The funding, supported by other major investors, underscores ENV’s confidence in SBC’s vision. The collaboration is poised to reshape the landscape of blockchain, emphasizing the fusion of traditional finance with the evolving blockchain sector.

SBC’s collaboration with EOS Network Ventures

ENV’s participation in the funding round validates SBC’s vision and business model while fostering collaboration between traditional finance and the blockchain sector.

ENV’s investment goes beyond financial backing; it involves active participation in SBC’s strategic direction. ENV will secure a board seat and actively contribute to the company’s investment committee. This collaboration is a strategic move, bringing together ENV’s expertise in Delegated Proof-of-Stake Layer 1 blockchain and SBC’s commitment to fostering innovation.

SBC’s CEO, Lewis Bateman, expressed excitement, stating:

“This strategic investment provides us with the necessary capital to accelerate our growth and establishes a meaningful partnership with a key player in the blockchain space.”

Raymond O’Neill, Chairman of SBC, welcomed ENV to the board, emphasizing the commitment to deepening collaboration and leveraging ENV’s strategic expertise.

The funding, coupled with the recent partial acquisition of technology solutions provider Troon Technologies, positions Spirit Blockchain Capital for continued success. Yves La Rose, Director of ENV and CEO of the EOS Network Foundation commended SBC’s dedication to innovation, stating:

“This investment, coupled with active participation on the board and investment committee, reflects our confidence in their ability to navigate the evolving landscape.”

The funding, known as “The Offering,” is the second tranche of SBC’s non-brokered private placement, consisting of units and convertible promissory notes. ENV’s active involvement is expected to drive SBC’s expansion, strategic partnerships, and ongoing innovation in the blockchain and tokenization space.

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