GP Bullhound

GP Bullhound advises KnCMiner on USD14m Series A investment round

Press Release   •   Sep 04, 2014 17:26 CEST

Stockholm, 4 September 2014

GP Bullhound advises KnCMiner on USD14m Series A investment round

GP Bullhound, the technology investment bank, is pleased to have acted as exclusive financial advisor to KnCMiner on a USD14m series A investment round led by Creandum. The funding will enable KnCMiner to expand its Bitcoin mining operations and its ability to offer services to consumers in relation to the Bitcoin environment.

Since being founded in April 2013, KnCMiner has sold over USD70m of Bitcoin mining equipment for its mining operations and has generated more than USD40m of revenue. After branching out into software development KnCMiner has released the mobile Bitcoin wallet KnCWallet, and developed a powerful new proprietary cloud mining system, all from scratch.

KnCMiner developed and delivered the world’s first 20 nanometer Bitcoin chip and the Series A funding will help accelerate KnCMiner’s lead in cutting-edge nanotechnology R&D for its next-generation ASIC hardware. The company is also moving forward in developing new mining pool software as well as other new financial products related to crypto currency mining, transacting and asset management.

Sam Cole, Co-Founder of KnCMiner, commented: “We are delighted to welcome our new investors and thrilled to have the opportunity to extend our lead within the Bitcoin ecosystem. In tandem with our considerable investments in IP this round of funding will further cement our lead in hardware design and deployment of crypto currency services.”

“We believe Bitcoin will have a tremendous impact on a global scale. KnCMiner is already the leading vendor of mining equipment and we are delighted to act as advisor as well as investor to this world-class management team”, said GP Bullhound Managing Partner Per Roman.

This represents the completion of GP Bullhound’s 18th transaction in 2014.

Enquiries
For enquiries contact Per Roman, Managing Partner, per.roman@gpbullhound.com

GP Bullhound
GP Bullhound is an international technology investment banking group with offices in London, San Francisco, Stockholm, Berlin and Manchester. Founded in 1999, GP Bullhound provides world-class advice on mergers, acquisitions and private placements to a diverse range of corporate clients, institutional investors and high net worth individuals. Combining a true love for entrepreneurship and innovation with deep global buyer relations and sector expertise, GP Bullhound has completed transactions for tech category leaders, most recently selling Pingdom to SolarWinds, Cambridge Technology Partners to Atos, Pozitron to Monitise,Tunigo to Spotify, and Fjord to Accenture. For more information, please visit www.gpbullhound.com
In 2013, GP Bullhound was awarded Boutique Investment Bank of the Year and Leading Advisers of the Year by the Acquisition International M&A Awards, and Manish Madhvani, a Founding Partner of GP Bullhound was named as a winner of the fourth annual M&A Advisor 40 Under 40 Award.

KnCMiner
KnCMiner is a world-leading specialist of proven extreme-performance cryptocurrency hardware and is one of the fastest growing new-economy companies in the world. KnCMiner delivers state-of-the-art chip design and software for blockchain-based applications including mining hardware, cloud services and mobile apps. For more information, please visit www.kncminer.com

About GP Bullhound

GP Bullhound is an international technology investment banking group with offices in London, San Francisco, Stockholm, Berlin and Manchester. Founded in 1999, GP Bullhound provides world-class advice on mergers, acquisitions and private placements to a diverse range of corporate clients, institutional investors and high net worth individuals. Combining a true love for entrepreneurship and innovation with deep global buyer relations and sector expertise, GP Bullhound has completed transactions for tech category leaders, most recently selling Pingdom to SolarWinds, Cambridge Technology Partners to Atos, Pozitron to Monitise,Tunigo to Spotify, and Fjord to Accenture. For more information, please visit www.gpbullhound.com
In 2013, GP Bullhound was awarded Boutique Investment Bank of the Year and Leading Advisers of the Year by the Acquisition International M&A Awards, and Manish Madhvani, a Founding Partner of GP Bullhound was named as a winner of the fourth annual M&A Advisor 40 Under 40 Award.