Anthony Pompliano is now in charge at ProCap Financial. This new entity will offer exclusive bitcoin-native financial services tailored to the needs of sophisticated investors. This venture was made possible through a SPAC merger between Pompliano's ProCap BTC and Columbus Circle Capital (NASDAQ: CCCM).
ProCap Financial’s first fundraising round was met with exceptional support. They pulled together a combination of $516.5 million in equity and $235 million in convertible notes — more than $750 million combined. Magnetar Capital, Woodline Partners LP, Anson Funds and RK Capital were some of the investors. Other investors were Off the Chain Capital, Parafi, Blockchain.com, Arrington Capital, BSQ Capital Partners and FalconX.
ProCap Financial, the world’s first Bitcoin public treasury builder. They intend to keep up to $1 billion worth of BTC on their balance sheet. The firm was established as a joint venture between ProCap BTC and Columbus Circle Capital (CCCM).
"ProCap Financial represents our solution to the increasing demand for bitcoin-native financial services among sophisticated investors. Our objective is to develop a platform that will not only acquire bitcoin for our balance sheet, but will also implement risk-mitigated solutions to generate revenue and profits from our bitcoin holdings." - Anthony Pompliano
As Gary Quin, CEO of CCCM, explained the thinking behind the partnership.
"From day one, we sought to partner with a platform and a leader that could develop a transformative organisation – and we found that in ProCap BTC and Anthony Pompliano. Anthony’s track record as an innovative investor, operator, and early advocate in the bitcoin ecosystem speaks for itself. We believe his deep expertise and relentless conviction will help continue to transform an industry undergoing rapid evolution." - Gary Quin
A cadre of industry veterans joined angel investors in this funding round. Among them are prominent investors such as Mark Yusko, Jason Williams, Eric Semler, Tony Guoga and Matteo Franceschetti.
The subsequent merger with Columbus Circle Capital, a Nasdaq-listed investment firm, provides an efficient mechanism for ProCap Financial to access the public markets. With ProCap Financial, our goal is to leverage the increasing appetite for customized financial services that exists in the Bitcoin ecosystem.
