Mill City Ventures successfully completed a $450 million private placement and launched the SUI treasury strategy

ChainCatcher news, according to BusinessWire, Mill City Ventures III, Ltd. (NASDAQ: MCVT) announced the successful completion of a $450 million private equity financing and officially launched its pioneering Sui blockchain treasury management strategy. This financing was led by the London-based digital asset hedge fund Karatage Opportunities, with equal participation from institutions such as the Sui Foundation.

Karatage co-founders Marius Barnett and Stephen Mackintosh serve as Chairman of the Board and Chief Investment Officer, respectively. Mill City currently holds 76,271,187 SUI tokens, with an average purchase price of $3.6389 per token, making it the only publicly listed company with official support from the Sui Foundation for the SUI treasury.