Maven Capital Partners, a Singapore-based private equity firm, has agreed to exit its investment in Blacktrace, a leading provider of blockchain-based supply chain traceability solutions, to Carlyle Group’s Unchained Capital. The deal, which is expected to close in the coming weeks, is valued at $100 million.
Blacktrace was founded in 2017 by a team of veterans from the technology and supply chain industries.
The company’s platform uses blockchain technology to track the movement of goods through the supply chain, providing businesses with visibility and transparency.
Blacktrace’s customers include some of the world’s largest retailers, manufacturers, and food and beverage companies.
Maven Capital Partners first invested in Blacktrace in 2018. The firm’s investment helped Blacktrace to expand its product offering and to grow its customer base.
Maven Capital Partners is pleased with the company’s progress and believes that Carlyle Group’s Unchained Capital is the right partner to help Blacktrace achieve its next stage of growth.
“We are excited to partner with Unchained Capital to help Blacktrace continue to grow,” said Vikas Shah, Managing Partner of Maven Capital Partners. “Unchained Capital has a strong track record of investing in and growing technology companies, and we believe that they are the best partner to help Blacktrace achieve its full potential.”
“We are impressed by Blacktrace’s technology and its team,” said Michael Moe, Managing Director of Carlyle Group’s Unchained Capital. “We believe that Blacktrace is well-positioned to capitalize on the growing demand for blockchain-based supply chain traceability solutions.”
The sale of Blacktrace to Carlyle Group’s Unchained Capital is a sign of the growing interest in blockchain technology. Blockchain technology is a promising technology that has the potential to revolutionize the way businesses track and manage their supply chains.
The sale of Blacktrace to Unchained Capital is a vote of confidence in the future of blockchain technology and its potential to improve supply chain efficiency and transparency.
