Multi-million dollar private placement of $450,000,000 by Mill City Ventures III, Ltd., aiming at launching the Sui Treasury strategy

Mill City Ventures III, Ltd. has announced a significant move in the cryptocurrency market with a $450 million private placement. The funds raised will be used to initiate a Sui Treasury Strategy, making Mill City Ventures the largest publicly traded SUI treasury with official backing and partnership from the Sui Foundation.

The private placement, led by Karatage Opportunities, also received participation from prominent firms and infrastructure providers such as Big Brain Holdings, Galaxy Digital Inc, Dr Jack Kong - NLABS Fund, Pantera Capital, M2, Electric Capital, GSR, Selini, Protagonist, ParaFi Capital, Borderless, dao5, Arrington Capital, Comma3 Ventures, FalconX, Paper Ventures, Maven 11, and others.

Upon the closing of the private placement, Mill City will adopt a Sui Treasury Strategy, with SUI serving as the company's primary treasury reserve asset. The company intends to acquire SUI tokens both on the open market and via institutional-grade deal flow typically reserved for crypto funds, as well as through a negotiated purchase and sale agreement with the Sui Foundation.

Marius Barnett and Stephen Mackintosh, Co-founders of Karatage, will play key roles in Mill City's management. Barnett is expected to become Chairman of the Board of Directors, while Mackintosh will serve as the Company's Chief Investment Officer, effective upon the closing of the private placement. The company also plans to appoint two new members to the Board: Marius Barnett and Dana Wagner.

Karatage, a London-based proprietary hedge fund specializing in emerging technology investments across digital assets, artificial intelligence, and gaming, brings deep operational experience across the blockchain ecosystem. The team's focus is on identifying and backing high-growth projects building next-generation technology with mass-market appeal.

Galaxy Asset Management will serve as the Asset Manager for Mill City. For more information about Karatage, please visit karatage.io.

As the sole SUI treasury with support from the Sui Foundation, Mill City and the Sui Foundation team will share information about the technology and ecosystem growth, establishing it as one of the only foundation-supported crypto treasury strategies. The companies involved in Mill City Ventures III, Ltd.'s SUI treasury strategy include Mill City Ventures itself, the Sui Foundation, and the placement agent A.G.P./Alliance Global Partners.

The closing of the Offering is expected to occur on or about July 31, 2025, subject to customary closing conditions. With this strategic move, Mill City Ventures is poised to make a significant impact in the cryptocurrency market, particularly with the Sui blockchain and its native cryptocurrency, SUI.