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October 27, 2021
Stephenson Law has advised decentralized network Minima on a $6.5m Series A round with support from notable investors including GSR, DEX Ventures, AGE Crypto, SMO Capital, and Vinny Lingham, a South African entrepreneur and co-founder of the California-based identity management startup Civic.
Founded by Hugo Feiler and Paddy Cerri, Minima is climbing the ranks within the blockchain industry, having created a “completely decentralized network for information and value, that enables individuals to exchange whatever, wherever and whenever they want, with others”. Notably, Minima’s tech offers a solution to the often environmentally damaging aspects of blockchain mining, by providing a solution that greatly reduces energy consumption by the network.
Our blockchain team, led by Associate Director and Head of Blockchain Will Foulkes advised on the round, and the funding will be used to facilitate the launch of Minima’s Mainnet in 2022.
Benefitting from a system that uses very little computing power, Minima’s network is easy to run on mobile phones (using less energy than Whatsapp), making it an easy choice for mobile or IoT devices. These combining factors go towards Minima’s goal: “to become the most decentralized, immutable, and scalable protocol on the market, natively supporting token transfers and smart contracts.”
On working with Will, Minima’s CEO Hugo Feiler had this to say,
“Will Foulkes and the blockchain team at Stephenson Law have been a great support to me and the wider Minima team. As a base layer blockchain protocol client we have had to grapple with evolving global regulation, create legal instruments from scratch and try to manage our risk in an increasingly unpredictable climate. Will has advised us on multiple investment rounds totalling in the region of USD 6.5m to date using his deep understanding of blockchain technology as well as the associated law and his global network of industry professionals, regulators and advisors.
Knowing that it's not just Will but a whole network of world leading advisors, reassures me that we are in safe hands as we move towards our mainnet launch. I would highly recommend Will to other blockchain companies, as well as those that are looking to branch out and take advantage of this new technology.”
In turn, Head of Blockchain Will Foulkes had this to say on the deal,
"I thought getting married to my wife was emotional, then I assisted Minima with their fundraising. Raising money as a blockchain company remains complex, and navigating through the web of international regulation is certainly not for the faint of heart. I continue to be impressed by Hugo and Paddy's ambition and vision for Minima, as well as their mettle for pushing boundaries on what is possible technically and legally. I look forward to continuing the journey as Minima moves into the next phase ahead of mainnet launch next year."
Stephenson Law’s blockchain team is highly experienced in blockchain technology and the law associated with it. Head of Blockchain Will Foulkes is a well-known legal expert in the field and a frequent speaker on multiple blockchain, cryptocurrency, and NFT events. Working closely with the Law Commission’s Digital Asset and Smart Contract teams, Will is on the cutting edge of developments within the field and a passionate advocate for this growing technology.
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