Quick take:
- The fund plans to buy $1 billion worth of Bitcoin within the next six months.
- Sora Ventures won’t hold the BTC on its balance sheet; it will create a central pool of institutional capital to support Bitcoin treasury firms like Metaplanet, Moon, DV8, and BitPlanet.
- Sora Ventures is the parent company of Hong Kong-based Moon Inc., DV8 in Thailand, and a joint owner of BitPlanet.
Hong Kong-based crypto venture firm, Sora Ventures, has launched a $1 billion Bitcoin treasury fund focused on Asia. The fund has already received $200 million in commitments from two partners and investors across the region, according to a report by Bitcoin Magazine.
Sora Ventures’ new fund plans to buy $1 billion worth of Bitcoin within the next six months. However, unlike traditional Bitcoin treasury companies that hold BTC on their balance sheets, the venture capital firm plans to create a central pool of institutional capital to support Bitcoin treasury firms like Metaplanet, Moon, DV8, and BitPlanet.
Sora Ventures is the parent company of Hong Kong-based Moon Inc., DV8 in Thailand, and a joint owner of BitPlanet.
The company also plans to expand outward, creating synergies between regional and international treasuries, as it aims to strengthen Bitcoin’s role as a reserve asset across markets.
Sora Ventures’ management team leads the new fund and plans to bring in new institutional partners to broaden resources, also expanding the network of Bitcoin treasury companies in Asia.
Highlighting the fund’s uniqueness, Luke Liu, Partner at Sora Ventures, said: “This is the first time that Asia has seen a commitment of this magnitude toward building a network of Bitcoin treasury firms, with capital commitment towards Asia’s first $1 billion treasury fund.”
Jason Fang, founder and Managing Partner at Sora Ventures, commented: “Asia has been one of the most important markets for the development of blockchain technology and Bitcoin. We have seen a rise in interest from institutions investing in Bitcoin treasuries in the U.S. and EU, while in Asia efforts have been relatively fragmented. This is the first time in history that institutional money has come together, from local to regional, and now to a global stage.”
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