Nasdaq-listed VivoPower (VVPR) is expanding its XRP-linked strategy through a new joint venture that aims to acquire hundreds of millions of dollars in Ripple Labs shares, giving investors indirect exposure to nearly $1 billion in underlying XRP.
The company said in a statement on Tuesday that its digital asset unit, Vivo Federation, has been hired by South Korea-based asset manager Lean Ventures to raise an initial $300 million of capital from Ripple Labs.
Based on current XRP prices, VivoPower estimates that the stake represents approximately 450 million XRP tokens, valued at around $900 million.
However, the structure stops short of purchasing XRP directly. Instead, Lean Ventures plans to establish a dedicated investment vehicle that will hold Ripple Labs shares raised by Vivo Federation, aimed at institutional and qualified retail investors in South Korea, one of the largest XRP markets globally.
VivoPower said it received approval from Ripple to purchase an initial tranche of preferred shares and is negotiating additional purchases with existing institutional holders.
He did not share further details about the transactions when asked by CoinDesk: “Please note that we are legally unable to provide responses to individual inquiries regarding transactions, acquisitions, mergers or other market-sensitive matters outside of what has been publicly disclosed.”
A Ripple representative said the company could not comment on this issue until Thursday.
As such, the company does not commit its own balance sheet capital, but will earn management and performance transfer fees, with the goal of realizing $75 million in net economic returns over three years if the initial $300 million mandate is met.
The deal builds on VivoPower’s recent pivot towards an XRP-focused treasury strategy. Earlier this year, the company raised $121 million in a private placement led by Saudi investor Abdulaziz bin Turki Abdulaziz Al Saud, positioning itself as one of the first publicly traded companies to anchor its digital asset strategy around XRP rather than bitcoin or ether.
VivoPower has already deployed XRP into yield generation strategies, including a $100 million allocation through Flare’s FAssets system, and adopted Ripple’s RLUSD stablecoin for treasury operations.
