Mill City Ventures Makes $450M Strategic Investment in SUI Tokens, Pioneering Crypto Treasury Strategy
Mill City Ventures has acquired 76.3 million SUI tokens through a $450 million private placement, becoming the first publicly listed company to implement a crypto treasury strategy backed by the Sui Foundation. This initiative, developed in collaboration with hedge fund Karatage and matched by an equivalent investment from the Sui Foundation, establishes Mill City as a gateway for both institutional and retail investors looking to gain exposure to the Sui network.
The sui tokens were purchased at an average price of $3.6389 and are held in a publicly accessible wrapper with daily liquidity. With over $277 million worth of SUI now under management, Mill City intends to continue accumulating tokens through over-the-counter (OTC) and open-market transactions. Galaxy Asset Management will manage the treasury operations, with participation from prominent firms like Pantera and Electric Capital in the strategic rollout.
Sui's blockchain, engineered for mainstream adoption, is increasingly attracting institutional interest in areas such as stablecoins, gaming, and AI applications. This development underscores growing confidence in layer-1 blockchain infrastructure as a foundational element of corporate treasury strategies.