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Pipers backs blockchain accelerator
Piper Alderman has sponsored the opening of a new blockchain accelerator by IR Ventures.
Grace Ormsby
Firm: Piper Alderman (IR Ventures, Independent Reserve)
Value: Not disclosed
Area: Technology, FinTech
Key players: Lasanka Perera and Adrian Przelozny acted for Independent Reserve, joined by Piper Alderman’s Michael Bacina.
Deal significance: IR Ventures is the investment arm of Independent Reserve, one of Australia’s oldest cryptocurrency exchanges, according to a Piper Alderman statement.
The firm is advising both Independent Reserve and IR Ventures on commercial law matters, and is assisting members of the new accelerator with its start-up legal needs.
Piper Alderman’s partner Michael Bacina said “blockchain is here to stay and is transforming our economy.”
“It’s great to have one of Australia’s oldest blockchain companies partner with one of Australia’s oldest law firms,” he said, as “IR Ventures are true leaders in providing space and funding for exciting new and disruptive ventures.”
Noting a recent price drop in cryptocurrency, Mr Bacina said this helps to “ensure a higher quality of project, and the IR Ventures space is sure to be a Launchpad for the next generation of exciting blockchain companies.”
As a result, “Piper Alderman is thrilled to be able to act and advise both IR Ventures and these new start-ups,” he continued.
For IR Ventures’ CEO Adrian Przelozny, his company “had a vision of accelerating blockchain innovation in Australia and building a robust support system for the thriving community behind blockchain entrepreneurship,” when Independent Reserve was founded back in 2013.
“It is significant that Piper Alderman has come along as a partner of IR Ventures,” he said, noting the firm “has a long-standing record of excellence and unique expertise in the blockchain industry that will benefit members of the IR Ventures innovation hub immeasurably.”
