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TCM-Trovio merger to create $200m digital assets firm

By Fergus Halliday
2 minute read

A $200 million crypto firm has emerged from the merger of two local players in the space.

TCM and Trovio are set to merge, creating a new entity called the Trovio Group.

Led by Ellerston Capital, Sun Hung Kai Strategic Capital and Amherst Holdings, the newly merged entity will be valued at more than $200 million.

In a statement announcing the move, Trovio said that the new entity would “act as a partner to traditional institutional participants across the commodities and investment communities” by offering them opportunities and advantages in the digital asset ecosystem.

TCM is a technologies and advisory firm that offers investment products and advisory services geared towards the opportunities of the digital economy, while Trovio is a tech firm focused on digitisation, tokenisation and provenance services for the commodities and carbon sector.

Prior to the merger, TCM and Trovio collaborated on a number of projects. This included the launch of the world’s first public blockchain token backed by government guaranteed gold, the Perth Mint Gold Token.

Following the move, TCM’s Digital Native Assets feeder fund will be rebranded to the TCM Digital Asset Fund Australia.

Trovio said that this move would realign it with their flagship fund, DeFi yield farming strategies and other arms of the business.

Beyond the merger, the company said that it plans to continue deploying its core technologies to the commodities and carbon industries and accelerate growth via a number of strategic technology projects.

Trovio Group CEO Jon Deane said that the birth of the Trovio Group represented the creation of an enterprise better designed to meet the opportunities of the digital economy and Web 3.0.

He argued that the merger would create immediate value for investors by bridging Trovio’s commercial technologies with the institutional infrastructure and distribution reach offered by TCM.

“Our view is that all assets will eventually be transacted in a digital format, and opportunity exists for those that leverage technology solutions to interact with this ecosystem, as well as the technology’s ultimate adoption as an asset class in its own right,” Mr Deane said.