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Anthony Scaramucci, Founder of SkyBridge Capital, and Brett Tejpaul, Head of Coinbase Institutional, will lead the company’s strategic advisory board.
AVAX One’s leadership also includes institutional finance veterans from Citi, Mastercard, and BlackRock.
The company will provide pure-play exposure to Avalanche, the institutional-grade blockchain designed to be a foundational digital settlement layer for the future of finance.
AgriFORCE Growing Systems Ltd. (NASDAQ: AGRI) has announced plans to raise $550 million, earmarked for an Avalanche-focused digital asset strategy. The company plans to acquire $700 million worth of AVAX tokens, according to a press release seen by NFTgators.
As part of the new strategy, AgriFORCE is also renaming to AVAX One, a company that provides pure-play exposure to Avalanche, the institutional-grade blockchain designed to be a foundational digital settlement layer for the future of finance.
Commenting on the announcement, Jolie Kahn, Chief Executive Officer of the Company. “For the first time, our company provides public market investors with a professionally-managed vehicle to invest directly in this transformation. Our mission is to maximize our ownership of this foundational technology, AVAX, on a per-share basis, delivering direct value to our shareholders as this new economy grows.”
Anthony Scaramucci, Founder of SkyBridge Capital, and Brett Tejpaul, Head of Coinbase Institutional, will lead the company’s strategic advisory board. AVAX One’s leadership also includes institutional finance veterans from Citi, Mastercard, and BlackRock.
“The tokenization of assets is the single biggest theme for the next decade of finance,” said Anthony Scaramucci. “Avalanche has clearly become the institutional-grade platform for this shift, and SkyBridge has already committed to tokenizing on the network. AVAX One will be the essential on-ramp for public investors to participate.”
The fundraising constitutes a $300 million PIPE offering, which is subject to shareholder approval, with future funding activities expected to bring in an additional $250 million, also mainly from equity-inked instruments.
According to the announcement, Hivemind Capital led the PIPE funding. Other investors included: ParaFi, Galaxy Digital, Digital Currency Group, Kraken, Cypher Capital, Big Brain Holdings, FalconX, Republic Digital, Borderless Capital, Summer Capital, GSR Ventures, Fintech Collective, Bastion Trading, CMCC Global Titan Fund, Hypersphere, Fifth Lane Capital, HashKey Capital, and others.
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