FinTech

Powerhouse Ventures expands financial reach with 2 strategic acquisitions

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Powerhouse Ventures (ASX:PVL) has revealed two significant acquisitions aimed at bolstering its capabilities and expanding its horizons in the financial and investment sectors.

The first acquisition involves the purchase of the domain name www.informedinvestor.com.au from Sequoia Financial Group (ASX:SEQ).

The move will see Powerhouse Ventures revamp the Informed Investor website, turning it into a leading platform for high conviction investment opportunities.

The deal includes 2,000,000 Powerhouse Ventures shares, with Sequoia demonstrating its confidence by voluntarily escrowing the shares.

"The inclusion of Informed Investor aligns seamlessly with our broader strategy to enhance communication within the investment community," stated James Kruger, Executive Chairman of Powerhouse Ventures.

The second acquisition consists of New River Asset Management, an AFSL licenced entity.

By acquiring New River, Powerhouse Ventures aims to streamline costs associated with licencing while exploring new avenues in funds management and advisory services.

The transaction also involves 2 million Powerhouse Ventures shares.

Powerhouse Ventures is an investment company providing venture capital to deep-tech innovators solving problems of a global scale.

The company invests in and adds value to companies that produce sustainable IP moats in the electrification and decarbonisation, next generation computing, space technologies and healthcare and wellness sectors.

At the time of reporting, Powerhouse Ventures’ share price was $0.06.

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