Mill City Ventures Bets Big on SUI with $450M Treasury Allocation

Mill City Ventures III, a publicly traded specialty finance firm, is pivoting to cryptocurrency by deploying $450 million to acquire SUI tokens. This strategic move establishes SUI as the company's core treasury holding, with 98% of capital earmarked for open market purchases and agreements with the Sui Foundation.

The shift ties Mill City's growth trajectory to the sui blockchain's performance—a high-throughput network powering payments, gaming, and AI infrastructure. Digital asset hedge fund Karatage Opportunities co-led the funding round alongside the Sui Foundation, with its founders taking leadership positions at Mill City.

Scheduled to close by July 31, this transaction represents one of the largest institutional SUI acquisitions to date, providing rare public market exposure to the token through a traditional finance vehicle.