Dentons advises Fulgur Capital LP on a pioneering Bitcoin-based investment in The Blockchain Group

Paris-Dentons has advised Fulgur Capital LP, a private equity and venture capital fund, on a strategic investment in The Blockchain Group, an innovative company listed on Euronext Growth Paris and specialized in decentralized technologies.

This groundbreaking €48.6 million transaction was structured through the issuance of convertible bonds primarily subscribed in Bitcoin, marking a world first in corporate financing. Through this fundraising, The Blockchain Group strengthens its Bitcoin Treasury Company model, positioning itself among the top 30 listed companies in the world in terms of Bitcoin reserves.

Strategic legal support and high-level expertise

Dentons assembled an international team to secure and structure this pioneering transaction, addressing the legal, regulatory, and transactional challenges related to crypto-asset financing. The operation was led by Guillaume Kessler (Partner, M&A, Paris), with Caroline Pucel (Counsel, M&A, Paris), Audrey Molina (Partner, Restructuring, Paris), and Emmanuelle van den Broucke (Partner, Competition/FDI, Paris). The New York team, headed by Jackson Hwu and Christopher Hagenbuch (Partners), provided key transatlantic expertise in structuring the deal.

This transaction highlights the evolving investment strategies within the tech sector and further establishes Dentons as a key advisor in structuring innovative financial transactions.

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