Mill City Ventures III announced the establishment of its own cryptocurrency treasury based on tokens $SUI , following the successful completion of a funding round of $450 million. As part of this initiative, the firm acquired 76.3 million SUI tokens at an average price of $3.64 per unit.
Representatives of Mill City confirmed intentions to continue accumulating SUI, including additional purchases on the open market. The press release emphasizes that the company remains the only public entity implementing a cryptocurrency treasury strategy with official support from the Sui Foundation.
The main specialization of Mill City is short-term non-bank lending and structured financing. According to their data, 98% of the funds raised through private placement will be directed towards investments in $SUI and digital asset management.
Among the funding participants are leading institutional players, including:
- Big Brain Holdings
- Galaxy Digital
- Pantera Capital
- M2
- Electric Capital
- GSR
Mill City emphasizes that Sui, developed by Mysten Labs, is one of the most actively discussed first-level blockchains.
Analysts believe that the growing interest in altcoin-backed instruments is a continuation of the trend initiated by MicroStrategy with its Bitcoin strategy. The Mill City deal could be a key step in the process of institutionalizing the ecosystem $SUI .
