Blockchain firm Fundament has landed German real estate giant Bauwens as a strategic investor with $7.35 billion of projects to jumpstart its asset tokenization business.
Fundament CEO Thomas Ermel told CoinDesk that Bauwens acquired 15 percent stake of the firm in cash in September after beginning negotiations for a partnership in May.
Founded in 2017, the Berlin-based blockchain firm issues security tokens on ethereum blockchain to raise money for real estate development.
The company’s $280 million real estate bond token sale opens for both institutional and retail investors on Oct.8.
The token was initially to be backed by five separate construction projects, three in Hamburg, one in Frankfurt and one in the university town of Jena.
Ermel said the firm will also consider including some projects from Bauwens in its real estate portfolio for the token sale.
Bauwens is one of the top three project developers in volume in Germany, with investment in both residential and commercial real estate, including former Unilever headquarter Emporio Tower, one of the most iconic buildings in Hamburg, Germany.
While Bauwens’s massive pipeline will be available to tokenize,…
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Author: David Pan