Walkers Bermuda Acts as Counsel to DrumG in $6.5 Million Investment

Walkers Bermuda has acted as Bermuda counsel to DrumG in relation to a $6.5 million equity investment made by ConsenSys, a blockchain software technology company founded by Joseph Lubin based in Brooklyn, New York. The investment comes as a Series A minority funding round in which ConsenSys is the sole participating investor.

Bermuda-based DrumG, co-founded by Tim Grant, is a company founded to help enterprises build real-world applications on a wide range of interconnected ledgers. As part of the investment, Lubin will sit on DrumG's board and DrumG itself will have a "significant presence" within the ConsenSys financial technology ecosystem, in which there are more than 50 projects being managed.

The Walkers Bermuda team was led by partner Jonathan Betts with assistance from associate Rachel Nightingale.