Stackr is a savings solution designed to provide exposure to both capital and blockchain markets. The core investment choices have been institutionally curated to deliver long term sustainable results, using decades of experience and data science combined with the latest technology and the most cost effective and secure execution available today.
Stackr unites blockchain and traditional investment. With a focus on long-term sustainability, Stackr is an excellent option for investors seeking to further diversify their portfolio.
Invictus Capital and Stackr formed a strategic partnership; with Invictus investing $754,000 USD in exchange for an undisclosed equity stake.
Impairment of Investment - Q3 2020
Due to the lackluster ICO environment from the second half of 2018, the Stackr team decided to pivot away from a public token sale and token economy. The initial capital raise provided by the Hyperion Fund was largely used to scale up the company in preparation for a public raise and the subsequent launch of the official Stackr platform. The company was split into two entities of which one was taken over by the Hyperion Fund. This entity aimed to continue the efforts in establishing a regulated crypto investment manager in Mauritius.
The team at Invictus Capital engaged with both the Financial Services Commision (FSC) and the Economic Development Board (EDB) of Mauritius throughout 2019 and 2020. The applications for both the Investment Manager and Fund licenses reached the late stages of approval before the coronavirus caused unfortunate delays. During this period Mauritius was placed on the EU money laundering blacklist which proved to be detrimental to the future prospects of launching our regulated investment product.
The costs of continuing these efforts are misaligned with the inherent risks for IHF token holders and therefore the decision to impair the full value of the investment from the Net Asset Value of the Fund was taken. Invictus Capital will continue to engage with the Mauritian authorities in the hopes that their blacklisted status is revoked over the near term, and that some value can be salvaged from the hard work put in by the team. As always, we will keep the Invictus community informed of any developments in this regard and we are somewhat optimistic about recovery of value during the fund lifecycle.