Hilbert Group AB (NASDAQ FN: HILB B) has acquired a 5.7% stake in Capchap AB, a joint venture between the blockchain pioneer Chromaway AB and law firm LegalWorks / LWA. The transaction amount for Hilbert Group is SEK 2.5 million, and the deal is cash settled.
Capchap offers equity management on the blockchain. Capchap’s solution enables users to manage their share ledger, issuance of new shares, buying and selling of shares in private companies and other corporate actions – on the blockchain. This means that the costly corporate secretary services currently provided by legal advisors, are to a large degree eliminated. The solution meets the legal requirements of Swedish law and GDPR.
“We believe Capchap’s solution is the future of corporate administration. Increasingly expensive and bureaucratic services will be put on the blockchain and governed by smart contracts.”, says Niclas Sandstrom, CEO of Hilbert Group. “Capchap’s blockchain-powered solution addresses a very important non-financial use case for blockchain technology and, as such, diversifies our existing VC portfolio.”, he added.
“We are pleased to have Hilbert Group as one of our shareholders and also on the advisory board”, says Mattias Sjöberg, CEO of Capchap. “We see many synergies between Hilbert Group’s activities and our own as well as those of ChromaWay”.
About ChromaWay
ChromaWay AB is a leading Web3 pioneer, developing industry-defining blockchain technology platforms since 2014. One of ChromaWay’s platforms, Chromia ($CHR) is a public platform for decentralized applications (Dapps). Chromia powers the well-known Metaverse GameFi projects My Neighbor Alice ($ALICE) and Mines of Dalarnia ($DAR). For more information about ChromaWay, please visit https://chromaway.com/
About LegalWorks
LegalWorks Nordic AB is one of the leading alternative legal services providers in Sweden offering a combination legal talent, services and technology. The legal advisory service, LWA Legal, employs around 25 lawyers around Sweden with offices in Stockholm and Gothenburg. Online legal services for start-ups and entrepreneurs are available at www.legalbuddy.com. For more information about LegalWorks, please visit https://legalworks.se/
For further information, please contact:
Niclas Sandström, CEO Hilbert Group
+46 8 502 353 00
ir@hilbert.group
