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Thai VC Fund V Ventures Acquires Troubled Exchange Zipmex for $100 Million

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After weeks of negotiations on a potential buyout of Zipmex, venture capital fund V Ventures has reportedly reached a deal to acquire the embattled cryptocurrency exchange.

V Ventures, a subsidiary of Thoresen Thai Agencies (TTA) public company, is looking to purchase a 90% stake in Zipmex crypto exchange, Bloomberg reported on Dec. 2.

The VC fund is about to acquire Zipmex for about $100 million in digital assets and cash, anonymous sources familiar with the matter claimed. Citing a court hearing on Friday in Singapore, the report says that Zipmex was offered $30 million in cash and the rest in crypto.

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