Vostok project to close 2nd investment round end-May

The second investment round of Waves Platform’s Vostok project will close on 31 May, according to a press statement by Waves Platform. The company plans to sell up to 10% of the project, raising $120m at an estimated capitalisation of $1.2bn. London-based investment group Dolfin will structure and coordinate the deal.

The Vostok project aims to enable large enterprises and public institutions to build the foundation of next-generation digital infrastructure, the company says.

The first investment round for $120m with the total valuation of the Vostok project $600m closed in December 2018, the press statement says. The share of 20% of the project Vostok was received by private and institutional investors, who were selected according to their potential benefit to the development of the plan.

“The private distributed digital platform Vostok will combine technological developments and innovations we tested when building the international Waves Platform, with the advantages of other end-to-end digital technologies such as artificial intelligence, big data analytics and the industrial internet of things,” says Sasha Ivanov, founder and CEO of Waves Platform. “In each of our strategic markets, we are launching an integrator company, with the help of which an ecosystem of Vostok solutions will be built. Second round investors will provide us with, among other things, opportunities to enter new markets,” she adds.

“Vostok’s present-day objective is to attract big institutional investors, including mutual funds and venture capital funds. We are delighted to have an opportunity to continue working on this project and are thrilled to see a growing interest in Vostok from businesses and investors alike,” says Danis Nagy, CEO of Dolfin.

Founded in 2016, Waves Platform offers tools for creating decentralised applications. Vostok is a universal technological solution for scalable digital infrastructure developed by Waves Platform in 2018.

Dolfin is an independent wealth management platform that provides custody, brokerage and asset management to private clients, financial advisors and institutional investors. Founded as a London-based wealth boutique in 2013, today, Dolfin looks after more than $3bn of client assets and handles around $650m of brokerage flow every month. Dolphin is headquartered in London, with offices in Malta and Amsterdam, the company is regulated by the UK’s Financial Conduct Authority and the Malta Financial Services Authority.