Home » Business » Avalanche Foundation plans $1B raise for US digital asset treasury firms to buy AVAX, with Hivemind Capital and Dragonfly Capital leading
Avalanche eyes major capital boost as Hivemind Capital and Dragonfly Capital spearhead $1B fundraising to purchase AVAX tokens via US-based treasury entities.
Key Takeaways
- Avalanche Foundation is planning to raise $1 billion for its ecosystem by creating two US-based digital asset treasury companies.
- These companies are designed to purchase large amounts of AVAX tokens at discounted prices, providing a capital boost to the Avalanche Foundation.
Share this article
Avalanche Foundation is in talks with investors to establish two US “digital asset treasury” companies that aim to raise $1 billion to purchase millions of AVAX tokens at a discount, according to the Financial Times.
The first company, led by Hivemind Capital, seeks to raise up to $500 million through a Nasdaq-listed firm. Crypto investor and former White House press secretary Anthony Scaramucci is serving as an advisor to this venture.
The second initiative involves a $500 million special purpose acquisition company launched by Dragonfly Capital.
The structure would allow the treasury companies to buy AVAX tokens at discounted prices while providing the Avalanche Foundation with significant capital infusion through US-based investment vehicles.
Share this article
