Mill City Ventures Secures $450M Funding to Expand SUI Token Holdings

Mill City Ventures III, Ltd. has raised $450 million in a private investment round to strengthen its blockchain strategy centered on the sui network. The funding was co-led by Karatage Opportunities and the SUI Foundation, with participation from major institutional players including Galaxy Digital and Pantera Capital.

The firm now holds over 76 million SUI tokens, purchased at an average price of $3.6389 per token. Nearly all of the raised capital will be allocated toward SUI token acquisition and management, while existing finance and lending operations remain unaffected.

Galaxy Asset Management will manage the SUI-focused treasury strategy, reflecting increasing institutional confidence in the network. Leadership changes accompany the funding, with Karatage's co-founder taking on the chairman role and a new Chief Investment Officer appointed to lead the initiative.