Morgan Creek Digital Property co-founder and crypto influencer Anthony Pompliano is making ready to launch a brand new Bitcoin-focused funding car that goals to lift $750 million by means of a merger with Columbus Circle Capital 1, the Monetary Instances reported on June 13, citing folks acquainted with the matter.
The brand new entity, known as ProCapBTC, will reportedly safe $500 million in contemporary fairness commitments alongside $250 million in convertible debt.
The fundraising would comply with a merger with Columbus Circle Capital 1, a particular goal acquisition firm, or SPAC, which went public in Might with backing from funding financial institution Cohen & Firm Capital Markets.
The deal’s phrases haven’t been finalized however might be introduced as quickly as subsequent week, in line with the report.
Increasing crypto publicity
Columbus Circle Capital 1 is one in every of a number of SPACs sponsored by Cohen & Firm, a New York Inventory Change-listed agency that has turn into more and more energetic within the digital asset sector.
The financial institution, which has its roots in conventional capital markets and asset administration, has expanded into auditing, tax and advisory companies for cryptocurrency exchanges, token issuers, non-fungible tokens (NFTs), and decentralized finance tasks.
Columbus Circle Capital 1 raised $250 million in an preliminary public providing in Might 2025, particularly to focus on mergers with corporations in rising sectors like blockchain and digital funds.
The reported launch of ProCapBTC comes on the heels of Pompliano’s profitable itemizing of ProCap Acquisition, one other SPAC centered on the monetary expertise sector. ProCap Acquisition debuted on the Nasdaq in April and raised $250 million by promoting 25 million items at $10 every.
Pompliano, a well known Bitcoin advocate and podcast host, has not confirmed the reported merger plan for ProCapBTC on social media or by means of official statements.
If finalized, the deal would add to a current wave of enormous institutional Bitcoin funding autos, underscoring renewed urge for food for direct publicity to Bitcoin amid rising acceptance of the digital asset class.
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