Mill City Ventures III Secures $500M Equity Line to Expand SUI Treasury Holdings

Mill City Ventures III has announced a $500 million equity line to expand its SUI token treasury, which currently holds 76.2 million SUI tokens valued at $276 million. This move cements the firm’s status as a leading institutional investor in the Sui blockchain ecosystem. The capital will be used to scale SUI holdings and strengthen the company’s position as the only institutional-grade Sui treasury with an official relationship to the Sui Foundation [1].

The firm initially raised $450 million in July to fund the purchase of SUI tokens, signaling strong conviction in the potential of layer-1 blockchain technology. Institutional investors including Pantera Capital, Galaxy Asset Management, and Electric Capital have backed the strategy, reinforcing the credibility of Mill City’s approach [1].

Despite the equity line announcement, Mill City Ventures III’s share price fell 11.4% on the same day to $4.91, with an additional 4.28% drop in after-hours trading. However, shares have surged 165% since the company unveiled its SUI treasury strategy on July 24, indicating that investors remain optimistic about long-term growth [1].

Stephen Mackintosh, the firm’s Chief Investment Officer, noted that the equity line provides the necessary capital to scale SUI holdings efficiently. He emphasized that the strategy offers public market investors access to next-generation blockchain assets, a growing trend in the industry as more firms look to diversify treasuries beyond Bitcoin and Ether [1].

SUI, the native token of the Sui network, is the 15th largest cryptocurrency by market capitalization. The Sui network is a layer-1 blockchain designed for scalable, low-latency workloads, targeting emerging sectors such as artificial intelligence and gaming. By investing heavily in SUI, Mill City aims to capitalize on the anticipated growth of the network and its adoption in next-generation decentralized applications [1].

The move reflects a broader industry trend of institutional investors allocating capital to layer-1 blockchain projects that support scalable and innovative use cases. Mill City’s strategy of dedicating 98% of its recent $450 million raise to SUI underscores its belief in the token’s long-term potential and the Sui network’s role in blockchain innovation [1].

Source: [1]Mill City Ventures III May Expand $500M Equity Line to Boost SUI Treasury Amid Share Price Volatility (https://en.coinotag.com/mill-city-ventures-iii-may-expand-500m-equity-line-to-boost-sui-treasury-amid-share-price-volatility/)