Polychain Capital leads $110 million investment to kickstart a Berachain crypto treasury
Prominent crypto venture firm Polychain Capital is leading a $110 million financing deal to kickstart a treasury initiative holding BERA, the native token for the Berachain ecosystem.
Other investors include Blockchain.com, CitizenX, dao5, Kraken, and North Rock Digital, among others, according to an announcement on Monday.
Nasdaq-listed Greenlane Holdings (ticker GNLN) is offering a private investment in public equity (PIPE) to acquire BERA, which “will serve as the Company’s primary treasury reserve asset.” The company expects to raise $50 million in cash or cash equivalents and $60 million in locked or unlocked BERA tokens through sales of Class A shares and pre-funded warrants priced around $3.84 each.
The firm will purchase…
