Anthony Pompliano Merges ProCap BTC with Columbus Circle Capital to Form ProCap Financial, Raising $750 Million

American entrepreneur Anthony Pompliano has announced a significant merger to establish ProCap Financial, a Bitcoin-native financial services firm. The company will become publicly traded following a business combination with Columbus Circle Capital Corp I, a special purpose acquisition company listed on Nasdaq. Pompliano confirmed raising over $750 million in funding, marking the largest initial capital raise for a Bitcoin treasury firm.

ProCap Financial will form through a merger between Pompliano’s ProCap BTC, LLC and Columbus Circle Capital Corp I. Following approval, the combined company will list on Nasdaq under the current ticker of Columbus Circle Capital Corp I. ProCap will hold up to $1 billion worth of Bitcoin on its balance sheet at launch.

Pompliano’s firm raised $516.5 million in equity and $235 million through convertible notes. The equity was used to purchase Bitcoin, giving investors immediate exposure before the merger is finalized. The convertible notes, expected to close with the business combination, carry a zero interest rate and mature over 36 months. They are collateralized at 2x the funding amount in cash or Bitcoin.

The funding round attracted participation from major institutional and crypto-native investors. Firms involved include Magnetar Capital, Parafi, Blockchain.com, FalconX, and Arrington Capital. Veteran investors such as Mark Yusko and Jason Williams also contributed.

Pompliano emphasized the platform’s role in developing revenue strategies that leverage Bitcoin holdings. He described ProCap Financial as a solution for growing demand among institutional investors seeking access to Bitcoin-focused services. Columbus Circle Capital’s CEO noted that Pompliano’s experience and leadership were key drivers behind the merger. The goal is to create a transformative platform rooted in the Bitcoin economy while operating within a public market structure.

ProCap Financial will focus on acquiring Bitcoin and using it as a revenue-generating asset. The company intends to implement risk-managed strategies to produce sustainable profits from its holdings. The business model aims to blend traditional financial services with digital asset utility.

The company plans to complete the transaction by the end of 2025, pending SEC review of its registration filing. Final terms may vary depending on Bitcoin’s market price at the time of closing. Once finalized, ProCap Financial will position itself as a key public player at the intersection of crypto and institutional finance.

Michael Saylor, executive chairman of MicroStrategy and a prominent Bitcoin advocate, congratulated Pompliano on the merger. Pompliano responded by crediting the growing global acceptance of Bitcoin and its role in reshaping financial markets.