Naspers and Rand Merchant Investments have sold their stakes in Luno to Digital Currency Group
Naspers-backed cryptocurrency exchange Luno has been acquired by Digital Currency Group , a US based blockchain investor, for an undisclosed sum.
DCG builds, buys and invests in blockchain companies all over the world, backing more than 160 companies in 35 countries and investing directly in digital currencies. Other investors include Southeast Asia-focused venture firm, Venturra Capital and Europe's Balderton Capital.RMI said it sold its stake in Luno for cash to DCG “achieving an attractive price”.Dominique Collett, RMI senior investments executive and head of AlphaCode, said: “We are delighted by this transaction as it is AlphaCode’s first exit and well above our targeted IRR of 25%-35% for our fintech investments.
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