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Re: TWISTED CHRISTIAN post# 3499

Wednesday, 10/27/2021 6:00:09 PM

Wednesday, October 27, 2021 6:00:09 PM

Post# of 3517
From the Bitt website:
"Pelion took over as Bitt’s major shareholder in 2020 from Medici Ventures. Bitt generates revenues through servicing multiple stakeholders throughout the currency ecosystem and maturity of the currency. Network."

https://www.bitt.com/about/investor-relations

It sounds like Medici might still own some, but how much?

Wait, I will answer my own question:
"April 26, 2021 at 8:05 AM EDT
Overstock Closes Transaction with Pelion Venture Partners to Oversee Medici Ventures’ Blockchain Assets
PDF Version
Overstock is limited partner in blockchain fund
SALT LAKE CITY, April 26, 2021 (GLOBE NEWSWIRE) -- Overstock.com, Inc. (NASDAQ:OSTK), today announces it has closed its blockchain fund transaction with Pelion Venture Partners, a third-party venture capital firm with a proven track record of successfully investing in early stage companies. Overstock’s wholly owned blockchain-focused subsidiary, Medici Ventures, has been converted into a limited partnership (the “Fund”) and will be managed by Pelion MV GP, LLC, which will act as the general partner of the Fund. Overstock.com, Inc. is the sole limited partner of the Fund.

As the limited partner, Overstock has committed $45 million over the eight-year life of the Fund. The Fund will return invested capital to Overstock first and then split profits on successful exits as set forth in the Fund’s Limited Partnership Agreement. The Fund will hold a significant minority ownership stake in tZERO Group, Inc. (“tZERO”) and Overstock will retain a direct minority equity interest in tZERO."

https://investors.overstock.com/news-releases/news-release-details/overstock-closes-transaction-pelion-venture-partners-oversee

I can't say that I fully understand what is being said there though.
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