Sora Ventures launches $1 billion fund to support bitcoin treasury firms in Asia

Taiwan-based crypto venture capital firm Sora Ventures announced plans to build a $1 billion fund to invest in bitcoin treasury companies in Asia.

Sora Ventures said on Friday in a press release that it aims to accumulate $1 billion in the next six months. It has secured $200 million in initial commitments from regional partners and investors. 

The fund is set to invest in Asia-based companies that hold bitcoin on their balance sheets, a strategy that has recently gained traction among listed firms in Japan, Hong Kong, Thailand, and South Korea.

"We have seen a rise in interest from institutions investing in Bitcoin treasuries in the U.S. and EU, while in Asia efforts have been relatively fragmented," said Jason Fang, founder and managing partner of Sora Ventures. "This is the first time in history that institutional money has come together, from local to regional, and now to a global stage."

Sora Ventures' latest plan builds on a series of acquisitions and investments in publicly traded companies that have adopted bitcoin as a treasury asset. In April 2024, Sora invested in Japan's Metaplanet and supported Metaplanet's 1 billion yen ($6.6 million) bitcoin purchase, according to the statement. 

Earlier this year, Sora Ventures acquired Hong Kong's Moon Inc., which has pivoted toward bitcoin and Web3-related investments following its rebrand from HK Asia Holdings. 

In July, Sora led a consortium that acquired Thai electronics retailer DV8 through a tender offer, aiming to replicate the Metaplanet model in Southeast Asia. Also in July, Sora and its partners took a controlling stake in South Korea's BitPlanet to back the company's expansion into digital assets.