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Fieldfisher Paris' Financial Services Department advised Logical Pictures, a well-known company in the series and film financing business, on the legal and regulatory structuring of a EUR 100 million Security Token Offering (STO).
This STO is being launched through 21 Content Ventures, a new dedicated investment vehicle for the co-production of international films and series. 21 Content Ventures is an evergreen and alternative investment fund, issuing composite security registered in a shared electronic recording device (DEEP). The Tezos Blockchain was chosen for the registration of security tokens. Portzamparc, a subsidiary of BNP Paribas, will act as an advisor for the marketing of the fund. As a partner bank, BNP Paribas will also be in charge of collecting the funds raised and managing the subscription process.
Arnaud Grünthaler, partner in charge of the Financial Services department and who led the project, comments: "We are delighted to have been able to assist Logical Pictures throughout the process of structuring an issue of financial securities based on DLT (Distributed Ledger Technology) technology to enable their registration and governance. This operation demonstrates the convergence between the traditional financial world and innovative technologies based on the use of a public Blockchain".
Frédéric Fiore, President of Logical Pictures comments: "The launch of 21 Content Ventures is a new and innovative project in many ways. Fieldfisher's support on the regulatory side proved crucial and enabled us to build a relevant and financially attractive offer. The constructive exchanges with a regulator, who listened to us, under the guidance of Arnaud, enabled us to move forward with confidence in the development of this innovative financial product".
Partner Arnaud Grünthaler was involved in the regulatory and legal aspects.
This STO is being launched through 21 Content Ventures, a new dedicated investment vehicle for the co-production of international films and series. 21 Content Ventures is an evergreen and alternative investment fund, issuing composite security registered in a shared electronic recording device (DEEP). The Tezos Blockchain was chosen for the registration of security tokens. Portzamparc, a subsidiary of BNP Paribas, will act as an advisor for the marketing of the fund. As a partner bank, BNP Paribas will also be in charge of collecting the funds raised and managing the subscription process.
Arnaud Grünthaler, partner in charge of the Financial Services department and who led the project, comments: "We are delighted to have been able to assist Logical Pictures throughout the process of structuring an issue of financial securities based on DLT (Distributed Ledger Technology) technology to enable their registration and governance. This operation demonstrates the convergence between the traditional financial world and innovative technologies based on the use of a public Blockchain".
Frédéric Fiore, President of Logical Pictures comments: "The launch of 21 Content Ventures is a new and innovative project in many ways. Fieldfisher's support on the regulatory side proved crucial and enabled us to build a relevant and financially attractive offer. The constructive exchanges with a regulator, who listened to us, under the guidance of Arnaud, enabled us to move forward with confidence in the development of this innovative financial product".
Partner Arnaud Grünthaler was involved in the regulatory and legal aspects.