XSpring Capital Public Company Limited (SET: XPG) announced that the Company has formed a joint venture company with ER Universe, LLC, a subsidiary of Elevated Returns, LLC, and invested in ER XSpring Ventures fund 1, LP, under the name ER XSpring, LLC., with an investment size of USD10,000,000 and a purpose to invest in the specialist fund in the Fintech field focusing on digital assets and blockchain globally, especially in the United States.
The establishment of the joint venture is in accordance with the budgeting and investment policy framework as determined by the board of directors of the Company, which delegates the power to the Investment Committee to approve and determine.
In this regard, XPG will receive 40% return from ER XSpring, LLC and will receive 40% return from the management fee in ER XSpring Ventures Fund 1, LP.
