The blockchain investment and advisory firm, which took a 30% stake in StartupToken in November 2017, said Blockwater had acquired a 7.4% stake in the company for £192,548, valuing it at around £2.6mln.
StartupToken is based in Gibraltar and acts as a ‘hyper accelerator’ to help blockchain entrepreneurs grow projects into start-ups.
Coinsilium added that given Blockwater’s investment, the implied value of its own had increased 116%. As a result, its seed capital investment had risen to £722,222 from £360,905 in November 2017.
Following the latest round of investment, Coinsilium’s equity shareholding in StartupToken now stands at 27.8%.
Eddy Travia, chief executive of Coinsilium, said the company had been “greatly impressed by the speed at which StartupToken has been able to gain a strong presence in the industry”, adding that Blockwater’s “impressive portfolio of blockchain investments” was a good addition to StartupToken’s equity holders.
In a separate announcement on Tuesday afternoon, Coinsilium said its executive chairman, Malcolm Palle, had purchased 200,000 shares in the company at a price of 3.6p each. Palle now holds around 6.35% of the company's issued share capital.
In mid-afternoon trading Tuesday, Coinsilium shares were changing hands at 3.65p.
-- Adds executive share purchase and share price --