Dentons represented Blockstream Capital Partners in leading the US$75 million Series B financing round of Komainu, a regulated digital assets service provider and custodian backed by Laser Digital, a company of the Nomura group, digital asset security firm Ledger and asset manager Coinshares International. The transaction was announced on January 16, 2025. The investment itself is unique in that it is the first transaction of its type funded entirely in Bitcoin and involved hedge and risk management contracts. The funding will be used by Komainu to establish a Bitcoin treasury strategy, strategic growth plans and the adoption and integration of Blockstream's Bitcoin linked technologies, including Liquid Network, which is expected to enable Komainu to dramatically reduce off-exchange margining and settlement times, in addition to other technologies for asset tokenization and blockchain-based trading solutions for Komainu’s institutional clients.
PeterPaul Pardi, Director at Blockstream, said: “It was a pleasure working with the Dentons team on this important deal. This financing presented unique complexities as a first of its kind funding entirely in Bitcoin and involved cross-border compliance challenges. Jackson Hwu and his team, with their expertise in venture and digital assets and depth of advice across multiple jurisdictions, provided invaluable support in a complex global transaction and on a tight timeline. We are delighted to have Dentons work alongside us as we continue to support Komainu’s strategic growth.”
The Dentons multinational team was led by Jackson Hwu, Venture Technology and Emerging Growth Companies Partner in Miami; with support in the US from Matthew Gruenberg, Venture Technology Partner in New York; Christina Austria, Venture Technology Counsel in Washington, DC; Maya Uchima, Venture Technology Managing Associate in New York; and Josh Benzadon, Venture Technology Associate in New York; and with support in the UK from Joseph Altendorff, Corporate Partner in London; Andrew Barber, Regulatory and Investigations Partner in London; and Daniel Glantz, Corporate Associate in London. Additional international support was provided by Anna Terrizzi, Corporate Senior Associate in Dubai; Alessandro Engst, Banking & Finance Partner in Rome; Valerio Lemma, Banking & Financing Of Counsel in Rome; and Jonathan Bernstein, Partner in the Cayman Islands.
For more details see press releases here: Nomura-Backed Crypto Firm Komainu Raises $75 Million in Bitcoin and Komainu Completes Series B Fundraising with Strategic Investment from Blockstream.
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