Quick take:
- The fundraising attracted participation from Magnetar Capital, Woodline Partners LP, Anson Funds, RK Capital, Off the Chain Capital, Parafi, Blockchain.com, Arrington Capital, BSQ Capital Partners, and FalconX.
- The two companies have formed a new entity, ProCap Financial, focused on establishing a public Bitcoin treasury with up to $1 billion in BTC.
- The new company aims to use its bitcoin balance sheet to generate revenue and profit through a variety of strategies.
Anthony Pompliano has raised more than $750 million in a funding round backed by Magnetar Capital, Woodline Partners LP, Anson Funds, RK Capital, Off the Chain Capital, Parafi, Blockchain.com, Arrington Capital, BSQ Capital Partners, and FalconX.
The fundraising is part of a SPAC merger between his bitcoin treasury firm, ProCap BTC and Nasdaq-listed investment firm Columbus Circle Capital (NASDAQ: CCCM). Industry veterans Mark Yusko, Jason Williams, Eric Semler, Tony Guoga, and Matteo Franceschetti also joined as angel investors. The fundraising comprised $516.5 million in equity and $235 million in convertible notes.
The two entities have formed a new company, ProCap Financial, focused on establishing a public Bitcoin treasury with up to $1 billion BTC in its balance sheet. According to a press release seen by NFTgators, the new company plans to use the bitcoin balance sheet to generate revenue and profit through a variety of strategies.
Commenting on the announcement, Anthony Pompliano, who will lead ProCap Financial, said in a statement: “ProCap Financial represents our solution to the increasing demand for bitcoin-native financial services among sophisticated investors. Our objective is to develop a platform that will not only acquire bitcoin for our balance sheet, but will also implement risk-mitigated solutions to generate revenue and profits from our bitcoin holdings.”
Gary Quin, CEO of CCCM, commented: “From day one, we sought to partner with a platform and a leader that could develop a transformative organisation – and we found that in ProCap BTC and Anthony Pompliano. Anthony’s track record as an innovative investor, operator, and early advocate in the bitcoin ecosystem speaks for itself. We believe his deep expertise and relentless conviction will help continue to transform an industry undergoing rapid evolution.”
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