US‐based e‐commerce retailer Overstock announced on Thursday that GRS Capital, a private equity firm from Hong Kong, will invest up to $270 million in its blockchain unit called tZERO. After the announcement, the stock price rose over 20% in after‐hours trading, to $45.40 per share.The investment will be made based on a total valuation of tZERO at $1.5 billion, which gives GRS Capital an 18% share in Overstock’s blockchain subsidiary. Besides, the private equity firm will buy $30 million worth of tZERO security tokens from the US retailer. The Hong Kong‐based firm will invest another $104.55 million in shares of Overstock itself. Thus, the total investment coming from GSR reaches $374.55 million.