CoinShares acquires Napoleon Asset Management following AMF license
“We are proud to be one of the most regulated digital asset investment firms in the industry.”
CoinShares has acquired crypto-focused Napoleon Asset Management following regulatory approval from the Autorité des Marchés Financiers (AMF).
The transaction follows the acquisition of the Napoleon Group from last December and fits with CoinShares’ strategy of developing into a full-service digital asset investment and trading group, within a strong regulatory framework.
On 30 November 2021, CoinShares entered into a sale and purchase agreement to acquire the entire Napoleon Group. The transaction was completed on 16 December 2021.
The deal contained an option to acquire Napoleon Asset Management, the exercise of which was subject to prior approval of the change of control by the Autorité des Marchés Financier. That approval was received on 28 June 2022.
Following the approval from the French AMF, CoinShares exercised its option to acquire Napoleon Asset Management and signed a deal, pursuant to the terms set out in the November 2021 SPA. The deal was completed on 30 June 2022.
AIMF license strengthens CoinShares’ position in asset management
The Alternative Investment Fund Manager (“AIFM”) licence is one of the most rigorous European regulations for Asset Managers and is a key component in CoinShares’ ambition to become the leading investment group in the digital asset sector.
The acquisition of Napoleon Asset Management allows CoinShares to offer AIFM compliant products and services, in addition to its market leading position as an issuer of crypto Exchange Traded Products (ETPs).
Napoleon Asset Management will strengthen CoinShares’ position as a digital asset investment firm in Europe as the AIFM licence carries a passporting regime for its market services and products throughout the European Union.
The acquired firm also broadens CoinShares’ algorithmic trading and artificial intelligence offering.
CoinShares’ regulated status reassures clients
Jean-Marie Mognetti, Chief Executive Officer of CoinShares, said: “After the recent events in the digital asset sector, it has never been more clear that strong regulation is needed for crypto to thrive. As such we are very pleased to have received this approval from the AMF to acquire Napoleon Asset Management. Bringing the company into our group is a further step in the right direction towards investor protection. We are proud to be one of the most regulated digital asset investment firms in the industry. Our regulated status in a growing number of jurisdictions is one of CoinShares’ principal strengths; it reassures our clients and demonstrates our plans to lead Europe’s digital asset sector.”
Jean-Charles Dudek, Chief Executive Officer of Napoleon Asset Management, said: “We have continued to build upon the synergies between our two businesses since CoinShares acquired the Napoleon Group last December. The integration of Napoleon Asset Management into the group was anticipated at that time but necessarily needed to await consideration by and approval of the change of control by the AMF. Now that approval has been granted, this acquisition by CoinShares will further strengthen the ties between us.”