CoinShares Purchases 100% of Napoleon Crypto for $14.5 Million

CoinShares previously agreed to buy all the outstanding shares of Napoleon Crypto SAS for $14.5 million in November 2021.

CoinShares, a major European digital asset manager, is finalizing the acquisition of the French fintech firm Napoleon Group despite the current market downturn.

CoinShares announced on July 4 that it had acquired Napoleon Asset Management, a digital asset management division of Napoleon Group.

CoinShares previously entered into a sale and purchase agreement (SPA) to buy Napoleon Crypto SAS's entire share capital for 13.9 million euros ($14.5 million) in November 2021.

The latest acquisition occurred soon after the French financial regulator, Autorité des Marchés Financiers (AMF), approved the takeover of Napoleon AM on June 28. CoinShares then carried out the transaction in compliance with the terms laid out in the group SPA, which was signed on June 2022.

After raising over $10 million through an ICO in late 2018, Paris-based Napoleon AM launched. The firm has received the Alternative Investment Fund Manager (AIFM) license and became one of the first European asset managers to be financed by an ICO and incorporated under French law.

In late 2019, Napoleon AM launched the Napoleon Bitcoin Fund, a regulated fund that invests in Bitcoin (BTC).

The acquisition of Napoleon AM by CoinShares allows the firm to offer AIFM-compliant products and services, in addition to being a major issuer of crypto exchange-traded products in Europe. The license enables CoinShares to provide market services across the European Union, expanding its product range with algorithmic trading and artificial intelligence tools developed by Napoleon AM.

Jean-Marie Mognetti, the CEO of CoinShares, told Cointelegraph that CoinShares is carrying on with its expansion despite the market downturn. He said:

“CoinShares continues to grow despite market conditions. The bear market is an opportunity to solidify positions and build new products and services.”

The CEO explained that having an AIFM-regulated entity in CoinShares’ group is important because it's "one of the most demanding licenses."

Mognetti said, "CoinShares has always been at the forefront of regulation. It is a strong advocate of regulation in the digital asset industry and has an extensive list of regulated products and services."