Crypto Venture Capital Firm Sora Ventures Seeks $1 Billion

Sora Ventures, a crypto venture capital firm, aims to raise $1 billion to bolster Bitcoin investments, as announced by the Asian Treasury Ministry on Friday.

With an initial $200 million from partners and investors, the firm is on the lookout to gather another $800 million in Bitcoin over the next six months.

“This marks the first time Asia has committed to such a significant investment in a network of Bitcoin finance companies, establishing the region’s first $1 billion financial fund,” stated Luke Liu, a partner at Sora.

The fund’s approach will differ from other regional Bitcoin investment initiatives, such as Metaplanet, which publicly holds 20,000 BTC valued at over $2.2 billion.

Instead, Sora’s fund is designed to act as “a central pool of institutional capital aimed at supporting existing companies and fostering the creation of similar Treasury ministries worldwide.”

As of now, Sora Ventures hasn’t replied to inquiries about the fund’s specific operations.

Based in Taiwan, the company seeks to position Asia on par with Western markets concerning Bitcoin’s institutional adoption.

“Asia plays a crucial role in the evolution of blockchain tech and Bitcoin. While there’s rising interest from institutions in US and EU, efforts in Asia are, well, rather fragmented,” they expressed.

“This is a historic moment for institutional funding, now being pulled together from local levels to a global audience.”

Last year, Sora invested in Metaplanet, which is considered Asia’s largest Bitcoin finance company. In July, they participated in the acquisition of Thailand’s DV8, a public company that is currently embracing the Bitcoin financial model.

The trend of Bitcoin as a financial asset kicked off with Michael Saylor and his business software firm in 2020. Currently, more than 300 entities are keeping significant crypto assets on their balance sheets.

Recently, Bitcoin has seen a slight increase of 1.2% over the past day, trading at $110,842.