Avalanche Foundation has announced plans to establish two treasury firms in the U.S. to raise $1 billion for discounted AVAX token purchases.
Hivemind Leads Treasury Initiative
Web3-focused investment firm Hivemind Capital Partners will manage the first vehicle. The group is in advanced talks with investors to transform a Nasdaq-listed company into a digital asset treasury firm.
This entity is expected to raise up to $500 million to purchase AVAX tokens directly from the Avalanche Foundation at discounted rates. Anthony Scaramucci, former White House Press Secretary and crypto investor, will serve as advisor to the project.
Scaramucci has previously participated in large-scale digital asset efforts, including a $100 million Toncoin initiative with AlphaTON Capital Corp.
Dragonfly Launches SPAC for Second Firm
Alongside Hivemind, Dragonfly Capital will lead the second vehicle. The global investment firm, which has previously participated in Avalanche’s $250 million Avalanche9000 token sale, will structure its plan through a Special Purpose Acquisition Company (SPAC).
The SPAC is also targeting $500 million in fundraising to purchase AVAX tokens from the foundation. Dragonfly’s choice of a SPAC structure suggests a faster path to deploy capital.
Strategy Builds on Past Avalanche Initiatives
The $1 billion treasury plan represents a notable expansion of the foundation’s earlier capital programs. In 2023, Avalanche committed $50 million to tokenized assets through its Avalanche Vista program.
Previous efforts also included a $250 million token sale designed to strengthen ecosystem growth. The new initiatives aim to strengthen those strategies by increasing institutional participation.
Avalanche's $1 billion plan brings Wall Street investment strategies into crypto through two treasury firms in the United States, expanding institutional participation in token management.
