Original-Research: Cryptology Asset Group PLC - von GBC AG

Einstufung von GBC AG zu Cryptology Asset Group PLC

Unternehmen: Cryptology Asset Group PLC

ISIN: MT0001770107

Anlass der Studie: Management Interview

Letzte Ratingänderung: -

Analyst: Felix Haugg, Julien Desrosiers

Cryptology Asset Group: 'We want to be the leading European investor in

crypto assets and blockchain-based business models'

Cryptology Asset Group is a publicly traded investment company focused on

cryp-to-assets and blockchain-based business models. For this purpose,

Cryptology has a broad network of experts, including Christian Angermayer

and Mike Novogratz, two of the most prominent faces in crypto, who are also

among the founders and largest shareholders in the company. In the long

term, the company aims to be-come Europe's leading holding company of the

world's most successful crypto and blockchain companies. We spoke with the

company's CEO Patrick Lowry about the prospects for crypto-assets and

blockchain-based companies.

GBC AG: Mr. Lowry, please give us a brief overview of your company and

strategy to get started.

Patrick Lowry: Cryptology Asset Group is a leading European investment

company in crypto assets and blockchain-based business models. We invest in

and help develop the most disruptive and innovative companies in the crypto

and blockchain industry. Cryptology was founded in 2018 by Christian

Angermayer's family office, Apeiron Investment Group, crypto-legend Mike

Novogratz and Joram Voelklein.

GBC AG: Your portfolio includes some interesting companies, however most

in-vestors will not be familiar with these holdings yet. Can you tell us

more about your holdings?

Patrick Lowry: Cryptology currently has 6 portfolio companies after

completing 3 new investments in Q1 this year. The two flagship companies

are of course Block.one, the issuer of high-performance blockchain protocol

EOS and one of the world's largest Bitcoin position holders, and Northern

Data, a leading-HPC provider and Bitcoin min-ing host that is currently

publicly traded in Germany. Rounding out the portfolio is glob-al crypto

asset management group, Iconic Holding, commission-free neobroker

nextmarkets, geospatial-platform provider cloudeo and our most recent

investment, Bottlepay, a Bitcoin payment platform for micropayments. We are

exceptionally proud of our portfolio companies and how they have grown over

the past few years.

GBC AG: What requirements does a company have to meet for Cryptology Asset

Group to invest in it?

Patrick Lowry: We focus primarily on the strength of the founding team and

crypto business model when we look at new investment opportunities. This

can also be com-panies whose core business isn't necessarily tied to crypto

today, but where we see a clear crypto- or blockchain angle going forward,

like for example with nextmarkets or cloudeo. We like companies that are

able to create a so-called 'walled garden' around their unique product or

service offering. Of course, we focus on companies almost exclusively in

the blockchain and crypto space, but we are relatively agnostic and flexi-

ble as to investment size and industrial vertical. We believe blockchain

will touch al-most every industry in some way and are excited to see the

maturation of the block-chain industry become realized.

GBC AG: The crypto and blockchain industry is only at the beginning of its

devel-opment. Please give us an outlook and your assessment of further

development here. Do you also expect a large number of IPOs in this area in

the coming years?

Patrick Lowry: The crypto and blockchain industries have been developing

rapidly over the past decade and are now in position to scale immensely. I

like comparing it's growth to the emergence of the internet in the 90's and

early 2000's. With the internet you had new protocols being issued, but not

many people building proper business cases around this new technology,

inevitably leading to the tech-bubble bursting. Out of this tech-bubble,

however, came companies such as Amazon, Google and Face-book who

capitalized on leveraging the underlying internet technology to create

user-friendly business models, becoming the world's most valuable companies

in the pro-cess. In blockchain we are now witnessing the same phenomenon.

The Coinbase IPO earlier this year was just the beginning of crypto and

blockchain company IPOs with the future Google's and Amazon's of the

decentralized world currently being built. We are excited to be investing

in such companies.

GBC AG: You mostly invest in private equity companies. What is your

strategic investment duration and is there a set exit strategy?

Patrick Lowry: Our founding investor, Christian Angermayer, has

successfully com-pleted over 40 IPOs and acquisitions over the past few

years, raising over EUR3 billion for his companies in the process.

Leveraging this, Cryptology takes an active approach in not only developing

and scaling our portfolio companies, but their exit and capital mar-kets

strategy as well. We aim to bring our companies public when they are ready

or introduce them to strategic partners which may lead to an exit via


GBC AG: Can you give us a brief outlook and your expectations for

Cryptology As-set Group in 2021?

Patrick Lowry: I believe 2021 will be remembered as the year that

blockchain and crypto truly went mainstream and Cryptology is uniquely

positioned to capitalize on this. We are excited by the caliber of

companies we are seeing in our exclusive pipe-line of investment

opportunities, and even more ecstatic by the performance of the companies

we have already invested in. Cryptology is also exploring an international

listing of its shares to increase liquidity for our investors and we are

looking into poten-tially adding Bitcoin and other leading crypto assets to

our balance sheet as a part of our ongoing treasury management strategy.

Besides that we want to increase aware-ness in regards to our brand as well

as to step up our media presence significantly. There is a lot in store for

Cryptology and our investors in 2021.

GBC AG: For investors, the issue of sustainability/ESG is becoming

increasingly important. How do you take this into account in your business

and investments?

Patrick Lowry: The societal impact blockchain and cryptographic technology

will have cannot be understated. It is the most revolutionary innovation

since the emergence of the internet. 'With great power, comes great

responsibility', and at Cryptology we take great pride in financing and

helping build companies we believe will have an im-mensely positive

societal impact and adhere to the highest standards of corporate

governance. While Bitcoin's energy consumption is well documented, what is

not commonly known is that most of its power comes from completely

sustainable sources. We are proud our portfolio companies are actively

exploring ways to reduce, and possible even eliminate, their carbon

footprint through implementing sustainable best practices and leveraging

renewable, natural resources.

GBC AG: Finally, can you give us a longer-term outlook/vision. Where will

Cryptolo-gy Asset Group be in 3 to 5 years?

Patrick Lowry: As far as I am aware, we are currently Europe's leading

investor in crypto assets and blockchain companies that is publicly traded.

As the space continues to evolve and the adoption of crypto assets goes

mainstream, I believe Cryptology has the opportunity to become one of the

world's leading crypto and blockchain investment groups. I am excited to

work alongside our exceptional team, founding investors and the

entrepreneurs in our portfolio as we drive the adoption of crypto and

blockchain together.

GBC AG: Patrick Lowry, thank you very much for the interview.

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Date (time) of completion of English version: 10/05/2021 (11:09 am)

Date (time) of first distribution of English version: 10/05/2021 (12:30 pm)

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