Pioneering blockchain business with a client base stretching from luxury goods to global car brands
On behalf of Joint Liquidators from Alvarez & Marsal Europe LLP, Metis Partners is pleased to present a unique opportunity to acquire the intellectual property (“IP”) portfolio owned by Foreverhold Limited (in Liquidation) (the “Company”).
The Company operated a blockchain and smart contracts technology platform (trading as Everledger) that enabled simple compliance and sustainability profiling for each supply chain participant, with applications across a wide number of high-value sectors including fine art, critical minerals and luxury goods.
Business Background
Founded in 2015: Everledger has been an industry pioneer in utilising blockchain technology for the purposes of ensuring supply chain transparency, establishing provenance and reducing carbon emissions.
Purpose: The Company’s platform can:
- evidence claims in relation to the chain of custody of goods, citing their origin and provenance, ensuring companies can fulfil compliance and regulatory requirements;
- utilise smart label technology to authenticate goods; and
- provide sustainability solutions, including Scope 3 carbon reporting and ESG profiling for supply chain participants.
High-profile Stakeholders: Everledger’s platform has been underpinned by more than $50m investment from notable investors including TenCent. Everledger collaborated with a range of notable partners including a pilot project with Ford to improve electric vehicle battery recycling, in addition to authenticity projects completed for Diageo and Alexander McQueen.
Opportunity Highlights
- Acquire the intellectual property rights to the technology platform that utilises blockchain to deliver increased transparency across global supply chains.
- Capitalise upon significant traction achieved by the platform to date, which at its peak, held > $3m worth of assets and generated > 6m visits per month.
- Acquire the rights to the platform which has proven application across a multitude of high-value industries including critical minerals, luxury goods, batteries and insurance.
- To utilise the platform to address the demonstrable need for a technology-backed solution to provenance and authentication of goods, with almost $4 trillion lost in global supply chain fraud annually. [1]
The technology platform has been underpinned by more than $50m investment from notable investors including TenCent. The Company collaborated with a range of notable partners including a pilot project with Ford to improve electric vehicle battery recycling, in addition to authenticity projects completed for Diageo and Alexander McQueen.
Deadline: Please be advised that a deadline for final offers has been set for Wednesday 31st May 2023. All offers must be submitted with proof of funds and a commitment to completing a transaction in June 2023.
If you are interested and would like to have a brief conversation or have any questions regarding this IP portfolio for sale, please contact me at emre@metispartners.com, on +44 (0) 141 353 3011 or +1 858 848 6911.
[1] https://www.crowe.com/uk/-/media/crowe/firms/europe/uk/croweuk/pdf-publications/the-financial-cost-of-fraud-2019.pdf?rev=58de66ed5c444d9ca9b0d47f461c26e5&hash=D7CB8AA1CCB81E7FCAC2BBCA344EC560
