(Alliance News) - Pires Investments PLC on Thursday said investee Pluto Digital Assets PLC raised GBP2.5 million, with both London-listed Argo Blockchain PLC and RiverFort Global Opportunities PLC snapping up stakes in the technology company.
Pires Investments shares were up 20% at 12.90 pence each in London around midday. Argo was trading marginally lower at 94.37p and Riverfort Global shares rose 5.3% to 1.29p.
Pires in January said that it subscribed for new shares in Pluto, a newly incorporated firm focused on "developing, supporting, advising and investing into digital assets built on Ethereum and other networks".
"Pluto has now completed a further fundraising, amounting to a total of GBP2.5 million," Pires said on Thursday.
Argo Blockchain said it invested GBP1 million, taking a 25% stake in Pluto. Argo said the investment was satisfied entirely by its holding of 75,000 Polkadot, a cryptocurrency. Argo purchased the 75,000 Polkadot in the first quarter of 2019 for USD75,000.
RiverFort Global said it has invested GBP300,000 for a 7.5% holding in Pluto.
"This investment in Pluto represents an exciting investment into a technology company with a focus in the fast-growing digital assets sector," RiverFort said.
By Eric Cunha; ericcunha@alliancenews.com
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