Coinsilium has the option to increase its stake up to 10%
Indorse, the decentralized social network for professionals, has announced that Coinsilium, the venture builder that finances and manages the development of early-stage blockchain technology companies, is increasing its share in the company to 6.5%.
Coinsilium is paying just under £100,000 in order to acquire a 3.5% stake, which will increase its shareholding to 6.5%, and has the option to increase the stake to 10%. Additionally, Coinsilium chairman Malcolm Palle is to join the Indorse board of directors, representing the listed firm’s wholly owned Seedcoin subsidiary.
Coinsilium is an accelerator that finances and manages the development of early-stage blockchain technology companies. It does this through its consortium of top-tier investors, industry thought leaders and executive managers. Based in London, Coinsilium’s focus is on driving innovation in fintech and blockchain technologies, enabling businesses to take advantage of growth opportunities.
Established in 2014, Coinsilium has built a portfolio of interests in fast-growing companies from around the world such as Factom, RSK Labs, CoinDash, and Indorse.
Indorse is a professional social networking platform co-founded by David Moskowitz and Gaurang Torvekar. Indorse’s co-founders have demonstrated their ability to successfully deploy blockchain technology and smart contract solutions for private companies and public institutions in Singapore, including the issuance of digital diplomas onto the blockchain for one of Singapore’s leading institutions of higher learning.
Indorse in September raised funds with an Ethereum token issue, which at the present prices represents a total valuation of US$34 million.