Mantra to be acquired by existing investor Inveniam Capital

Mantra (OM), a Layer 1 blockchain focused on real-world assets (RWA), is set to be acquired by its existing investor, Inveniam Capital Partners, The Block reported on June 16. The financial terms of the deal were not disclosed. The acquisition follows a period of difficulty for Mantra, whose native token, OM, plummeted by over 90% last year, prompting organizational restructuring and staff reductions. Inveniam had previously invested $20 million in Mantra before the restructuring took place. Both companies anticipate the acquisition will be finalized in the third quarter of this year.