Avalanche Foundation, a nonprofit behind the Avalanche cryptocurrency, is exploring the possibility of raising $1 billion to launch digital asset-related projects.
Fundraising Plans
Avalanche Foundation is in active discussions with investors to create a digital asset management company and transition another company into a 'crypto-hoarding' vehicle. The main goal is to raise $1 billion to purchase Avalanche (AVAX) tokens at a discounted price.
Deals with Hivemind and Dragonfly
According to sources, the $1 billion raise involves two deals, one led by Hivemind Capital with a $500 million private placement. This deal is expected to be finalized by the end of the month, while the second deal with Dragonfly Capital may conclude in October.
Limited AVAX Supply
At current prices, $1 billion would equal approximately 34.7 million AVAX tokens, roughly 8% of 422.3 million Avalanche tokens in circulation. Avalanche has a capped supply of 720 million tokens, similar to Bitcoin.
Avalanche Foundation continues to grow by attracting investments to expand its digital assets and strengthen its market position, while AVAX shows signs of price increase.
