Checkmate Capital (CHC) and Bcause LLC, developer of a cryptocurrency ecosystem announced today that CHC has committed as an initial investor in the Bcause Series B capital raise which began earlier this year.
In this equity round, CHC has agreed to acquire an undisclosed but substantial amount of the equity shares of Bcause.
The objective of the CHC investment is to strengthen Bcause exchange operations and to establish both new cryptocurrency exchanges and Asian-based, asset-backed payment-related products that will be developed.
“The global experience of the Bcause management team, particularly with building multiple exchanges in Asia, is critical in executing on our strategic plan to create viable cryptocurrency exchanges in Asia. This will lead to a clear purpose and mission for our Asian partners, linked to desired objectives and outcomes for the constituencies they serve.”
Checkmate Capital is an investment group managing family office assets and Asian-Pacific institutional funds. Checkmate’s primary areas of investment are energy and energy technology, biomedical and biotechnology, and diversified special situation opportunities.
“This commitment represents our second strategic investment from the Asian region and will further our distribution into Asia. We’re very pleased to work with CHC and our partners in playing a unique role in the evolving crypto marketplace and furthering the development of cryptocurrency trading in the region.”
For the Series B, ASGARD Partners & Co. was appointed back in May 2018 as Strategic and Capital Markets Advisor to Bcause. Lehman Bush, an Asian-focused, specialty boutique private equity investment firm with offices throughout Asia, is currently acting as the firm’s Asian-based strategic industry partner.
Other interested Series B round investor parties are expected to make contributions for additional equity investments in an intermediate closing timeframe on terms to be determined.
