FinLab EOS VC acquires stake in Sparrow
Frankfurt a. Main — DLA Piper advised FinLab EOS VC Europe I GmbH & Co KG on an investment in Singapore-based options trading platform Sparrow. The investment was part of a Series A financing round of $3.5 million. It will be used for further development of the platform. HDR Group, Signum Capital and Du Capitalalso participated in Sparrow as part of the financing round.
Sparrow is the leading options trading platform and provides an easy way to control risk and monetize digital assets. The company offers BTC and ETH options settled through smart contracts. Sparrow’s proprietary platform is accessible through a simplified interface, an enhanced order book, and trading APIs.
FinLab EOS VC Europe I GmbH & Co KG is a venture capital fund managed by FinLab AG that invests exclusively in projects based on the open source blockchain software EOSIO. The fund focuses on seed and early-stage startups seeking equity investment. The USD 100 million fund was launched by FinLab AG, one of the first and largest company builders and investors focused on the financial services technologies sector in Europe, together with Block.one.
The DLA Piper team led by partner Simon Vogel continued to include senior associate Michael Rebholz (both Private Equity/Venture Capital, Munich). In Singapore, Partner David Kuo, Of Counsel Katherine Chew and Associate Ying Chern Tan (all Corporate) advised.