Parataxis Holdings LLC has entered into an agreement with Bridge Biotherapeutics for a 25 billion won investment. This deal will create a BTC platform in South Korea and change the company's name.
Terms of the Deal and Company Changes
Parataxis Holdings, through Parataxis Korea Fund I, has finalized a deal to invest 25 billion won in Bridge Biotherapeutics. As a result, the company will change its name to Parataxis Korea and remain listed on KOSDAQ, pending shareholder approval.
BTC Strategy and Parataxis Holdings' Role
The deal will lead to the creation of a BTC platform in the South Korean markets backed by institutional investors. Andrew Kim, Partner at Parataxis Capital, will assume the role of CEO of the new company. Edward Chin, Founder of Parataxis Holdings, highlighted that BTC strategies are gaining interest globally, with South Korea being a key market.
Information on Parataxis and Bridge Biotherapeutics
Founded in 2019, Parataxis Capital Management focuses on multi-strategy investments in the digital asset sector. Bridge Biotherapeutics, established in 2015, develops therapeutics for various diseases and has been listed on KOSDAQ since 2019.
Parataxis Holdings' investment in Bridge Biotherapeutics marks a significant step towards establishing a BTC platform in South Korea, reflecting the growing interest of institutional investors in digital assets.
