#HotJulyPPI announced that Mil City Ventures III Limited (MCVT) has reported its financial results for the second quarter of 2025, and also announced the launch of what it described as the first publicly traded SUI treasury strategy on 31/07/2025.
Mil City raised $450 million through a private placement as of 01/08/2025. The company has accumulated 81,871,794 tokens of the SUI cryptocurrency as of 10/08/2025, and is currently storing all its SUI holdings, generating approximately $26,000 daily according to the company.
The company has established an arrangement with the Sui Foundation, an independent organization that supports the SUI network, providing access to token purchases and ecosystem insights. Mil City appointed Galaxy as the asset manager to oversee its SUI treasury operations.
The company appointed Marius Barnett as Chairman and Stephen McIntosh as Head of Investments. Both are co-founders of Karatage Opportunities, a London-based hedge fund that was the principal investor in the $450 million private placement alongside an investment from the Sui Foundation.
McIntosh stated in a statement: "Mil City is building a distinguished treasury strategy backed by the foundation to accumulate, activate, and expand the largest SUI position in the public markets."