An “unnamed millionaire” purportedly made a USD 12.2 million investment in a Telegram ICO private sale in March this year.

Russian media outlet Life says it acquired a duplicate of an archive enrolled by Canadian securities authorities that was issued toward the end of April.

The financial investor, whose identity isn't expressed in the report, was issued three securities esteemed at over USD 4 million each. Life likewise expresses that Pavel Durov, Telegram's CEO, and his sibling Nikolai (the organization's co-founder) enlisted legal advisors from the Canadian firm Cassels Brock and Blackwell to help settle the arrangement, which was done in the Canadian region of Alberta. The buy was led in US dollars, as opposed to Canadian money.

Telegram’s new digital money is set to be named Gram, and the organization says it will release the token in the final quarter of the budgetary year, in spite of a few fears that the ICO public sale may not occur.

Telegram brought USD 1.7 billion up in two rounds this year, as detailed by a News company. The second round observed 94 unique financial investors taking an interest since March fourteenth, the beginning date of the offering. Two financial investors in this ICO have made their identities known: originator of installment specialist organization Qiwi, Sergei Solonin, and author of Wimm-Bill-Dann Foods, David Yakobashvili.

Additionally, three huge venture capital firms, Sequoia Capitalare , Kleiner Perkins Caufield and Byers, and Benchmark allegedly recorded among potential financial investors amid the private pre- sale.

The ICO looks for investment to help the advancement of the Telegram messenger application and its own particular blockchain platform Telegram Open Network.

A month ago, Telegram won a naming rights conflict with a Florida-based fintech startup called Lantah, which additionally named its token Gram. Although, a federal judge in San Francisco decided in August that Telegram had built up priority rights – in spite of the fact that Lantah legal advisors have said they mean to appeal the decision.