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New Deal


Announced

Completed

Prosperity7 Ventures and Kenetic led a $30m Series A round in Red Date Technology.

Financials

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Transaction Value£21m
Consideration TypeCash
Capital Owned-
Capital Bid For-
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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Private Equity

Hong Kong

IT Services: Other

Minority

Cross Border

Single Bidder

Private

technical architect

Acquisition

Venture Capital

Completed

Friendly

Synopsis

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Prosperity7 Ventures, a venture capital firm, and Kenetic, an investment firm, led a $30m Series A round in Red Date Technology, an architect behind the blockchain connectivity network. Additional investors included Bank Pictet and Bangkok Bank. "The Internet's Golden Age was only made possible when the cost of building websites was reduced to near zero. The BSN makes the cost of creating and running applications exceptionally low, with the added benefit of multi-frameworks and interoperability, and larger customer bases," Yifan He, Red Date CEO.

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