Taiwan-based Sora Ventures has announced a $1 billion fund aimed at investing in companies holding Bitcoin in Asia. The fund has already secured $200 million from regional partners.
Objective of the Fund
According to Bitcoin Magazine, the fund will focus on companies based in Asia that hold Bitcoin in their balance sheets. This approach has turned into a strategic trend embraced by publicly traded companies in Japan, Hong Kong, Thailand, and South Korea. Jason Fang, the founder and managing partner of Sora Ventures, commented on the growing interest from institutional investors in the US and Europe towards Bitcoin treasuries, highlighting the fragmented nature of similar initiatives currently in Asia.
Previous Investments of the Fund
Sora Ventures’ new fund strategy builds on previous steps undertaken by the firm. In April 2024, Sora Ventures invested in Japan-based Metaplanet to support the company’s acquisition of Bitcoin worth 1 billion Japanese yen. In the same year, the firm acquired Hong Kong-based Moon, steering the company towards Bitcoin and Web3 investments. In July, Sora Ventures led the acquisition of the Thai electronic retailer DV8, aiming to implement the Japanese model in Southeast Asia.
Current Market Situation of Bitcoin
At the time of this report, Bitcoin was trading at $112,369 with a 1.22% increase over the last 24 hours, according to CoinMarketCap.
The launch of the $1 billion fund by Sora Ventures could significantly impact the Bitcoin market in Asia, providing companies with new investment opportunities and fostering the growth of digital assets in the region.
