Recently Said Gutseriev made the decision to sell his shares, in Capital.com and Currency.com to Viktor Prokopenya, a tech entrepreneur who’s also the founder of VP Capital, an investment company. In another transaction Gutserievs share in Zubr.io was acquired by FTX. While the parties involved have confirmed these transactions the specific amount of money exchanged remains undisclosed. This sale signifies the end of projects between Larnabel Ventures and VP Capital as both investors have chosen to go their ways.
|Larnabel Ventures is a venture capital firm headquartered in London, UK. The firm was established with the primary objective of investing in the information technology sector. Their investment strategy emphasizes backing innovative tech startups and supporting audacious entrepreneurs to grow their businesses. Larnabel Ventures has shown a preference for investing in various sectors like finance, retail, gaming, and consumer markets.
|VP Capital is a global investment firm with a keen focus on the technology sector. Founded in 2012 and based in London, England, the firm is known for its venture capital investments, predominantly in the information technology and financial sectors. VP Capital targets opportunities across the capital spectrum and invests in various global projects aimed at long-term capital growth and wealth generation.
To provide some context it is worth mentioning that in July 2017 Said Gutseriev, the founder of Larnabel Ventures began investing in cryptocurrency and blockchain initiatives. In 2017 Gutseriev and Prokopenya jointly invested $12.5 million in Capital.com—an AI driven trading business. This venture later transformed into Currency.com—an authorized cryptocurrency trading platform operating across Gibraltar, Great Britain and Belarus.
On the hand Viktor Prokopenya established Capital.com back in 2016. In 2017 Gutseriev and Prokopenya invested $25 million into the company. Following this success story Gutseriev went on to launch Zubr.io—a cryptocurrency derivatives exchange—with a $4 million investment in 2018. Finally utilizing the technology developed by Capital.com led to the creation of Currency.com—an exchange regulated platform, for trading cryptocurrencies—making it Europes first of its kind. Gutseriev also became a co investor in this project.
Gutserievs projects caught the interest of investors worldwide prompting him to engage in negotiations, with VP Capital to sell his stakes, in Capital.com and Currency.com. The agreement was ultimately concluded during the summer of 2021.
Viktor Prokopenya bought Said Gutseriev’s stakes in three crypto-exchanges – https://t.co/rQdfm3VFUh, https://t.co/ILmt4ANB9o and https://t.co/N0fIr75Hkp.The amount of transactions is not disclosed, but Gutseriev could earn about $150 million on the sale, according to “Vedomosti”
— Anton Motolko (@Motolko) August 18, 2021
Furthermore Gutseriev decided to sell his stake, in Zubr.io to the FTX crypto exchange during the spring of 2021. Additionally he initiated the process of selling assets, including Larnabel Ventures share in Banuba, a venture that was jointly managed with VP Capital. Consequently there are currently no projects between Larnabel Ventures and VP Capital.
Eldar Vagapov, the managing partner of Larnabel Ventures expressed gratitude towards VP Capital for their partnership. Acknowledged its impact on their shared initiatives. Viktor Prokopenya, the founder and shareholder of Currency.com, Capital.com and VP Capital praised their collaboration with business partners. Despite discontinuing his ventures Gutseriev maintains an outlook on the cryptocurrency industry and intends to pursue further investments in this domain. VP Capital has also conveyed their intention to make calculated investments, in cryptocurrency related ventures going forward.