NEM Ventures - Investment in Techemy

Announcements NEM Ventures
#1

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.

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NEM Ventures Update Q4 - 2019 (アップデート2019年第4四半期)
#2

Wow this is awesome news!
I never thought we would see so much going on in the space locally here in little old New Zealand!

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#3

Thanks for the update, Techemy has a long history in New Zealand, the region and around - NEM Foundation had been in touch with with the various Techemy subsidiaries like Brave New Coin, Blockchain Labs, Sphere Identity plus more in the past, with positive engagements.

We look forward to see the investment into Techemy lead to long term outcomes for the NEM ecosystem!

#4

Techemy has discontinued its activities in Japan.They did little work. So sad.
It is not good to abandon at this important time.

and They blocked me on the telegram. lol

What do NEM ventures think about this?

#5

Techemy has not discontinued activities in Japan, they remain very much active in Japan, including with major financial institutions. However, the contract between Techemy and NEM Foundation has been discontinued by mutual consent as I understand it.

The investment was made before that contract was advertised and detail of the contract is between NF and Techemy, if the cessation of the contract is by mutual consent, which I believe it was, then I support both organisations in making the right decision for each other and community. I understand a handover process is in place and that is being well managed at present to ensure efforts continue in Japan. The investment in Techemy was made for multiple reasons and Japanese contract was just one additional benefit of it, it was not a primary factor in the decision - because it didn’t exist at the time.

With regard to doing little work, I do not share that view from reports I’ve seen. What is it specifically you would have liked to see happen that didn’t happen? Perhaps it can be fed into the ongoing strategy if it is shared constructively?

With regard to blocking on Telegram - I don’t have any information on that or why/where it occurred so cannot comment, feel free to send me a direct message and I can look into it but can’t comment as I don’t have any information.

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#6

Please report.
At least there is no report to the Japanese community.
There is no report that stopped.

What are you spending on Community Fund money for?
We hope that the funds of the NEM venture will be used effectively.

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#7

Sorry I think there is a language difficulty, I’m trying to understand and make it as concise as possible but I don’t completely understand the request.

  1. Is your first question that you want a better report on the Japanese strategy for the NEM Community and progress/plans? I think NF is providing those updates, if there is something missing can you be specific and I can ask for it to be included?

2a. We invest the Community funds for a return to the community - financial return, adoption return, awareness return, eco-system services return etc. Some companies build on NEM (IODLT, Ample, Mobi), some bring services to the ecosystem (Vimba, CycleBit, Techemy). Techemy is a group which has several services (see announcement above in this thread) that are useful in the ecosystem.

2b. The investment in Techemy was made before NEM Japan was discontinuer, it was not part of the decision to invest in Techemy - they are a well respected company outside the NEM ecosystem and bring many years of experience and connections and opportunities from their work. They bid for the contract and were hired and managed by NF.

2c. Like you, we hope and try to make sure the funds are used effectively. We are also individual Nembers, as well as working for the community. We have invested a large amount of time and reputation over the past 1.5 years trying to ensure we make the right decision. The nature of investment is that it takes time to make a positive return, and some decisions will work and some won’t, but we always try to take the right choice for the ecosystem

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#8

Please tell me. Tell me what they did.

One thing is certain.
They blocked me by telegram. That’s all. haha

Please. NV should invest in a company that develops technology.
NV should invest in companies that use NEM.
Do not invest in companies only sell XEM.
Do not invest in a company that does nothing.

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