Mill City Ventures to Initiate $450 Million Crypto Treasury Strategy with SUI
Mill City Ventures III is pivoting into cryptocurrency with a $450 million private placement aimed at funding a new treasury strategy focused on SUI, the native cryptocurrency of the Sui blockchain.
- 98% of funds will be allocated to purchasing SUI via open market and agreements with the Sui Foundation.
- SUI will become Mill City's primary treasury asset, with 2% supporting existing lending operations.
- This represents one of the largest allocations of SUI to date, linking Mill City’s future to a blockchain designed for high-throughput applications such as payments, gaming, and AI infrastructure.
- Karatage Opportunities led the funding round, with founders Marius Barnett and Stephen Mackintosh taking key leadership roles.
- This positions Mill City as a public vehicle for institutional exposure to SUI, a rare move in publicly traded finance.
- The deal is expected to close by the end of July, marking Mill City as one of the first U.S. firms to adopt a blockchain-native treasury approach at this scale.
SUI has decreased by 1.7% in the last 24 hours.