Dear NEM Community,
We have some investment news we are finally able to share with you. Earlier this year, NEM Ventures made a significant strategic investment in Techemy, the holding company for an industry wide Blockchain and DLT enterprise eco-system. Techemy is a significant player in the Blockchain space, with subsidiaries including Brave New Coin a data and research company; smart contract and blockchain developer, Blockchain Labs, a DLT focussed development and technical consulting company; Techemy Capital, a blockchain-focused investment company; Techemy Advisory, an investment consultancy firm; and Sphere Identity, a global digital identity platform.
NEM has various existing relationships with Techemy that stretch back over a number of years. Techemy heavily contributed to the security token Verified Token Framework which NEM is using for the initial Catapult Security Token feature set. Techemy’s advisory arm has also worked closely with NEM projects, and as a regulated entity in New Zealand, Techemy is working on several significant tokenisation projects in Asia Pacific, some of which are considering utilizing Catapult depending on launch and project requirements aligning. Techemy’s team understands the NEM technology well and were recently engaged by the NEM Foundation to deliver the NEM Japan strategy, with a team on the ground there already working closely with our Japanese community.
On account of the significant relationship built to date between NEM and Techemy, we are particularly excited by this investment and the capacity to further progress our strategic partnership. The tactical investment allows us to leverage Techemy’s group structure, which includes technical consulting, Blockchain investment and deal flow sourcing/analysis, institutional data feeds and terminal products, identity solutions, and technical Blockchain development. As a highly regarded player in the space, NEM will also have access to Techemy’s strong industry network.
It is our firm belief that the partnership with Techemy will contribute greatly to securing the ongoing sustainability NEM Ventures’ investment capabilities while adding increasing value to the wider NEM ecosystem. The company is already revenue generating and has grown to a significant valuation since 2014 when it was founded, it represents a stable mid-large size addition to the NEM Ventures portfolio to balance the multiple startup investments made to date.
NEM’s investment in Techemy was made in XEM, the majority of which has not been divested and is still held by Techemy, a clear indication of the organisation’s financial and strategic commitment to the NEM ecosystem. Consequently, Techemy are clearly well positioned to articulate NEM capabilities at a strategic level in order to onboard future projects and carry out engagements with larger institutions.
Due to NDAs and for commercial reasons, the investment amount and additional information cannot be disclosed at this time. However, we look forward to updating the NEM Community with the full details on the investment, as soon as possible. The group is multi-faceted and we will aim to provide future updates on the individual subsidiaries/arms as well to help the community fully understand the value that Techemy offers the eco-system and wider Crypto industry.