NEW YORK--(BUSINESS WIRE)--Apr. 21, 2020--
tZERO, the global leader in blockchain innovation for capital markets, today announced that GoldenSand Capital (formerly known as GSR Capital), a private equity firm based in Hong Kong, has completed its $5 million equity investment in tZERO.
tZERO CEO Saum Noursalehi stated, “GoldenSand Capital understands the value of tZERO and its mission to introduce greater efficiency and transparency to capital markets by leveraging blockchain and smart contract technology. We are excited to continue working with GoldenSand Capital to achieve this mission.”
Overstock CEO Jonathan Johnson added, “tZERO is the crown jewel of Medici Ventures’ global keiretsu of companies. This investment validates tZERO’s vision of revolutionizing capital markets by creating a robust ecosystem that is powered by blockchain technology.”
GoldenSand Capital Chairman Sonny Wu said, “tZERO is building the next generation capital markets platform, capable of tokenizing, trading and settling digital securities, and we are pleased to be joining them to further build this capability. We plan to continue to collaborate with tZERO on strategic opportunities and are interested in partnering our wealth of industry connections across Asia with tZERO’s tokenization protocol technology. Our portfolio of digital assets, including GoldenSand Bank, are the low-hanging fruits for synergistic partnerships with tZERO.”
tZERO is a technology firm that was founded with the goal of utilizing distributed ledger and smart contract technology to revolutionize Wall Street so that it is more efficient, accessible and transparent. tZERO is a keiretsu company of Medici Ventures, the blockchain subsidiary of Overstock.com, Inc. (NASDAQ:OSTK).
tZERO Group, Inc. (“tZERO“) is a majority owned subsidiary of Overstock.com, focusing on the development and commercialization of financial technology (FinTech) enhanced with cryptographically-secured, decentralized ledgers – more commonly known as blockchain technologies. Since its inception, tZERO has pioneered the effort to bring greater efficiency and transparency to capital markets. For more information on tZERO, please visit: https://www.tzero.com/.
tZERO is not a registered broker-dealer, funding portal, underwriter, investment bank, investment adviser or investment manager, and is not providing brokerage, investment banking or underwriting services, recommendations or investment advice to any person, and does not provide any brokerage services. tZERO takes no part in the negotiation or execution of secondary market transactions for the purchase or sale of securities and at no time has possession of investor funds or securities in connection with such transactions.
About GoldenSand Capital
GSR Ventures & GSR family of funds was co-founded by Sonny Wu and Richard Lim in 2005.
In 2017, GSR was split into three independent teams, with GoldenSand Capital focusing on the investment thesis of “Building World Class New Industries”.
The spirit of "GoldenSand River" is that of a magical river eternally flowing towards the Yangtze River and symbolizing GoldenSand Capital’s firm commitment towards "innovation" and "investing to build future industries" to serve the world with New Industries, New Cities and New Finance.
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Alexandra Sotiropoulos, +1-347-293-1416
Michael Mougias, +1-347-293-1248