Mill City Ventures Makes $450M Strategic Bet on SUI Blockchain for Institutional Crypto Future

Mill City Ventures III, a Nasdaq-listed non-bank lender, has announced a strategic pivot with a $450 million private placement to establish the first publicly traded Sui treasury. This marks a significant shift from traditional lending to crypto infrastructure investment, with 98% of funds directed toward SUI token acquisitions.

The funding round, led by London's Karatage hedge fund and matched by the sui Foundation, includes participation from major crypto investors such as Galaxy Digital, Pantera Capital, and Electric Capital. Karatage co-founders will take leadership roles upon deal closure, demonstrating institutional confidence in Sui's high-performance blockchain technology.

This treasury strategy positions Mill City as a conduit between traditional finance and blockchain's institutional adoption. The involvement of infrastructure-focused investors indicates strong long-term belief in Sui's potential for mainstream use, capitalizing on its speed and scalability advantages.