Crypto Venture Aims to Raise $1 Billion for Diversified Portfolio

Reeve Collins, co-founder of Tether, and Chinh Chu, former co-head of private equity at Blackstone and founder of investment firm CC Capital, are collaborating to raise $1 billion for a new crypto investment venture. The duo aims to establish a listed investment fund that will invest in a diversified portfolio of top cryptocurrencies, including Bitcoin, Ethereum, and Solana. This initiative is being facilitated through a special-purpose acquisition company (SPAC) called M3-Brigade Acquisition V Corp. The fundraising process is currently underway, and the target amount of $1 billion may fluctuate based on investor interest.

The new venture distinguishes itself from other crypto investment strategies by adopting a diversified approach. Unlike Japan’s Metaplanet and Michael Saylor’s Strategy, which primarily focus on Bitcoin, or companies like SharpLink Gaming, which concentrate on Ethereum, this new vehicle seeks to spread its investments across multiple tokens. This strategy aims to mitigate risk and capitalize on various opportunities within the crypto market.

The timing of this project aligns with a significant move by President Donald Trump earlier in the year. In March of 2025, he signed an executive order on behalf of the U.S. government to establish a Bitcoin reserve as well as a multi-token reserve holding other digital assets. This new crypto fund is in line with the broader trend towards national-level holdings of crypto, reflecting a growing acceptance and integration of digital assets into mainstream financial systems.