Routemaster Capital to invest in Zug-based Valour

Founded in 2018, Valour Structured Products, Inc. is a company focused on creating exchange traded products in the digital asset space. Following the completion of a seed financing led by leading cryptocurrency investors in 2018, Valour has undertaken regulatory applications required and has received approval to be an issuer of digital asset products on leading European stock markets. Its first product launched was Bitcoin Zero. Bitcoin Zero is the first fully hedged, passive investment product with Bitcoin as its underlying asset and charges zero management fees.

Bitcoin Zero started trading on December 3rd, 2020 on the Nordic Growth Market in Stockholm, Sweden. In the month of December, Bitcoin Zero was in the top 3 most traded Exchange Traded Products on the exchange. The launch of Ethereum Zero and subsequent digital asset products is planned for Q1 2020.

Routemaster Capital has now signed a Letter of Intent to acquire an equity interest in Valour from certain shareholders of Valour. In consideration for the acquisition, Routemaster shall upon closing issue 21,000,000 common shares of the Company at a deemed price of $0.66 per common share to the shareholders of Valour in exchange for 20% of the common shares in the capital of Valour.

Olivier Roussy Newton, Co-Founder of DeFi Holdings and an advisor to Routemaster commented: “Listed cryptocurrency exchange traded products have gone from managing under 3 billion at the start of 2020 to over 25 billion by the end of fiscal 2020. We are excited about entering into an LOI to acquire a meaningful stake in Valour within Routemaster. Being the first company to launch a product with zero management fees in a landscape dominated by products with high management fees and subsequently creating yield through innovative lending tactics using DeFi protocols, Valour is exactly the type of company that Routemaster wants to invest in.”

The Valour management is based in Zug. The legal entity Valour Structured Products is registered in Cayman Island. Valour was co-founded by Johan Wattenstrom, Founder & Director of Nortide Capital AG. Wattenstrom was also the founder of XBT Provider, the first synthetic exchange traded product ever launched for BTC in 2015 which currently has 2.9 billion in assets under management.