Exit of B.heard Provides Symvan Capital Investors With a Window Onto the Blockchain Revolution
• B.heard acquisition by Sweetbridge Inc is first token-for-cash equity M&A transaction in the UK
• Sweetbridge technology releases unrealised value trapped within business supply chains.
• Tokenisation is expected to become a vibrant new asset class in the years to come.
London, UK, 18 September 2019 – Symvan Capital, an EIS fund manager, announces that B.heard, a pioneer in the monetisation of the European personal data economy, has been purchased by Sweetbridge Inc., an American company at the forefront of the blockchain economy.
The Sweetbridge technology continuously assures that information and commitments can be trusted between parties. This technology releases unrealised value trapped within business supply chains. It enables the tokenization of assets and rights, provides for new forms of asset-based finance, lowers supply chain costs, ensures regulatory compliance and enables the real-time audit of financial information.
Scott Nelson, CEO of Sweetbridge, said: “Supply chain management involves the production, movement and storage of almost everything we interact with each day, which involves extensive cooperation between many organisations in order to get a product or service built and delivered to your door.”
Nelson founded the fintech company Trax Technologies in 1993 and sold it in 2015 after establishing the company as an international supply chain management leader.
“We believe that 2019 and 2020 will see Sweetbridge establish technology partnerships with any number of leading auditors and financial institutions,” notes Nelson, “as we move to the next generation of KYC and AML reporting. Moreover, our technology should disrupt the entire food production industry in the UK over that period.”
EIS fund manager Symvan Capital, which first invested in B.heard in 2015 will return a healthy 2.2x return to investors in what is believed to be the first token-for-cash equity M&A transaction in the UK. Investors will receive Sweetcoin as consideration, a loyalty and rewards token. Symvan expects numerous imitators in the years to come as the blockchain revolution seeks to change the world in terms similar to what the Internet did in the 1990s.
Kealan Doyle, CEO of Symvan Capital, said: “We are at the end of the beginning with Sweetcoin and we believe that investor returns will increase in line with a significant uplift in the token. Facebook’s Libra and J.P. Morgan’s “JPM Coin” announcements bode well for tokenisation to become a vibrant new asset class, very similar to where the financial derivatives market was at the end of the 1980s.”
For further press information, please contact:
Kealan Doyle
CEO, Symvan Capital
kd@symvancaital.com
Scott Nelson
Chairman & CEO, Sweetbridge, Inc.
scott.nelson@sweetbridge.com
About Sweetbridge, Inc.
A leading player in supply chain technology, Sweetbridge (https://www.sweetbridge.com/) is a team made up by experts in supply chain, finance, economics, and technology development. The Sweetbridge technology stack provides continuous assurance of data to support businesses with a focus in supply chain management, moving to the next level of KYC and AML due diligence, and introducing transparency and fraud detection.
About Symvan Capital
Symvan Capital (https://www.symvancapital.com/) is a London-based award-winning EIS & SEIS technology venture capital fund manager. Symvan Capital invests in B2B technology growth companies making a material impact in their industry with the potential to deliver exceptional investment returns.