The structure stops short of buying XRP outright, however. Instead, Lean Ventures plans to establish a dedicated investment vehicle that will hold Ripple Labs shares sourced by Vivo Federation, targeting institutional and qualified retail investors in South Korea — one of XRP’s largest markets globally.
VivoPower said it has received approval from Ripple to purchase an initial tranche of preferred shares and is negotiating additional purchases from existing institutional holders.
It did not share further details about the transactions when asked by CoinDesk: "Please note that we are legally unable to provide responses to individual enquiries regarding transactions, acquisitions, mergers, or other market-sensitive matters outside of what has been publicly disclosed."
A Ripple representative said the company was unable to comment on this topic as of Thursday.
As such, the company does not commit its own balance sheet capital but will earn management fees and performance carry, targeting $75 million in net economic returns over three years if the initial $300 million mandate is reached.
