Anthony Pompliano launched ProCap Financial in a $1 billion merger to create a new entity focusing on holding Bitcoin.
The merger has raised over $750 million, the largest initial fundraise in history for a public Bitcoin treasury company.
Funds raised include $516.5 million in equity and $235 million in convertible notes, with a strategic objective to acquire Bitcoin for revenue generation.
Equity investors will gain immediate exposure to Bitcoin through the financing transactions.
Columbus Circle Capital Corp. I, a SPAC sponsored by Cohen & Company Inc., will aid in making ProCap Financial public.
Leading institutional and Bitcoin-native investors participated in the financing, including Magnetar Capital, Woodline Partners LP, and others.
Notable industry figures like Mark Yusko and Jason Williams were part of the venture, demonstrating a growing institutional interest in Bitcoin.