Investors are buzzing about Blackstone’s acquisition of Nio, a new technology start-up focused on blockchain.
It has attracted attention because of its use of the blockchain to manage the financial transactions of its business.
However, the company has not yet announced any new acquisitions, and there are no plans for any major new acquisitions in the near future.
“We have a long-term focus on our business, but we don’t have any new initiatives that we’re announcing right now,” said Blackstone CEO and co-founder Stephen Schwarzman, in a statement to ABC News.
Blackstone has had a long history of investing in blockchain companies, including a $500 million investment in the company behind it.
But Schwarzman said it was not yet clear if Nio was a blockchain startup, or just another technology company.
“Right now we have no plans to acquire any of NIO’s technology,” he said.
Blackstones stock has gained more than 7 per cent this year and it is expected to continue its upward march, up by more than 50 per cent in the year to date.
In a blog post, Schwarzman also suggested that he hoped Nio’s business model would not suffer.
“Nio has a strong team and a clear product vision,” he wrote.
Blackstone is also a big investor in another blockchain company, Bancor, which is also focused on technology. “
I’d be very surprised if NIO were to fail, and that is a risk that we would take if we were a stock in Nio.”
Blackstone is also a big investor in another blockchain company, Bancor, which is also focused on technology.
Schwarzman is now hoping to build a partnership with Blackstone to fund Bancur’s technology.
“Blackstone is a long term shareholder in Bancr, and we believe Bancrade’s technology will help Bancral grow and achieve its potential,” he added.
Schwarzenmans shares are up by about 25 per cent over the past 12 months.
He also invested in a bitcoin exchange in the past year, which he has also now sold.
Nio is the first publicly traded blockchain startup in Australia.
Schwarzmiller’s comments have raised eyebrows around the industry.
“You have seen the headlines this week with reports that Blackstone and Nio are planning to acquire the startup,” said Tom Tingley, chief executive officer of blockchain investment research firm eXchange.
“If the Nio deal was to go through, it would be a big development for the nascent space of blockchain technology.
It would mean a new wave of investors.”
Schwarzman was quick to dismiss such speculation, saying the company was a private company and that he had no knowledge of any private deals.
“As an investor I don’t care if we buy Nio or not,” he told ABC News in a phone interview.
He added that he would have no objection to a Blackstone-owned venture fund buying the company.