Avalanche Foundation Targets $1B Raise for Dual Crypto Treasury Firms

The Avalanche Foundation is reportedly seeking to raise $1 billion to establish two crypto treasury companies designed to hold millions of AVAX tokens, according to a new report from the Financial Times (FT). The move signals a bold attempt to deepen Avalanche’s financial reserves and expand its influence across the crypto market.

• First deal involves up to $500M private investment led by Hivemind Capital and a Nasdaq-listed firm.
• Anthony Scaramucci is reportedly advising on the fundraising strategy.
• A second deal could launch a special purpose acquisition company (SPAC) to hold AVAX.
• AVAX price jumped ~8% in 24 hours, despite a recent market cooldown.

According to the FT, the Avalanche Foundation—the nonprofit group overseeing the Avalanche blockchain—is in talks to raise up to $1 billion to fund two new crypto treasury companies. Both entities would be structured to hold millions of AVAX tokens, with investors buying tokens directly from the foundation at a discounted rate.

The first deal under discussion targets $500 million through a private investment round led by Hivemind Capital and an unidentified Nasdaq-listed company, with the goal of completing the raise by the end of the month. Notably, Anthony Scaramucci, former White House press secretary and a well-known figure in the digital asset space, is said to be advising on the transaction.

The second initiative would create a dedicated AVAX treasury company using a special purpose acquisition company (SPAC), giving institutional investors a unique on-ramp to Avalanche’s native token.

This push mirrors a trend seen earlier in 2025, where a number of publicly traded companies pivoted to a crypto treasury strategy inspired by MicroStrategy’s massive Bitcoin holdings. MicroStrategy currently holds nearly 640,000 BTC valued at roughly $73 billion. However, August’s market cooldown has dampened enthusiasm for such moves, with many crypto-treasury-related stocks experiencing price dips.

Despite this, Avalanche appears determined to capitalize on institutional appetite for digital assets. AVAX rose nearly 8% in the past 24 hours, even as it slipped about 2.1% since midnight UTC. The broader crypto market, as tracked by the CoinDesk 20 Index, climbed about 0.65% during the same period.

The Avalanche Foundation has not yet issued an official statement regarding these fundraising plans or the structure of the proposed treasury companies.

Final Thought

By pursuing a $1 billion raise and offering AVAX tokens at a discount, the Avalanche Foundation is making a high-stakes bet on institutional adoption. If successful, the plan could strengthen Avalanche’s position as a leading blockchain ecosystem and create a significant new use case for its native token—despite a crypto market that remains volatile and selective.