Bitcoin and blockchain-focused venture investment firm Coinsilium is slated to go public on the London Stock Exchange’s Alternative Investment Market (AIM).
The firm invests in, incubates and advises Bitcoin and blockchain-related startups. It is looking to raise another £3 million ($4.6 million), which would double the reported investment it has received to date.
CEO Eddy Travia told Business Insider that the firm is shifting focus from Bitcoin to blockchain technology, a trend observed with other investors in the space.
Coinsilium joins a number of other industry startups to go public, including Bitcoin Shop, DigitalBTC and Vogogo. It is also the first in the broader industry to go public in the UK. Travia commented:
“In a way I hope it’s a little bit too advanced so we make a little bit more of a statement and open some people’s eyes. We don’t have resistance when we talk to investors. They’re curious and interested.”
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He said that while there is a learning curve for the public in cryptocurrency, the public offering helps matters:
“There is a little of education of course, putting facts and putting news into context regarding blockchain and cryptocurrencies. But the reception has been good and a lot of people are starting to contact us, of course now more than before because we just announced the coming IPO.”
AIM is London’s ‘junior’ market, somewhat comparable to entry-level venues elsewhere such as the OTC markets in the US. Startups and smaller companies can more easily gain access to capital on AIM without overwhelming listing requirements.
Travia said that in his 10 years working in venture capital and private equity, AIM has been a very successful growth market. He added that it is also based in London, which “has this progressive and positive attitude to cryptocurrencies.”
Trading in the firm is slated to commence in early August under the symbol COIN- the same symbol envisioned by the Winklevoss twins for their sought bitcoin exchange traded fund (ETF) on the Nasdaq, whose fate remains uncertain.