Hong Kong's PE firm GSR to invest $270m in Overstock's blockchain subsidiary

Blockchain visual. Credit: Wikimedia Commons

Hong Kong-based private equity firm GSR Capital has agreed to make an equity investment of up to $270 million in blockchain startup tZero, a subsidiary of Nasdaq-listed online retailer Overstock.com, according to an announcement.

GSR will own an up to 18 per cent stake in tZero as part of the deal, leading to a post-money valuation of $1.5 billion for the latter. tZero focuses on the development and commercialization of fintech using blockchain technology.

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