Prominent cryptocurrency investor Anthony Pompliano is launching ProCapBTC, a $750 million Bitcoin-focused investment fund, through a merger with special purpose acquisition company Columbus Circle Capital 1.
The SPAC structure will facilitate ProCapBTC’s capital raise of $500 million in equity and $250 million in convertible debt. This strategic financing approach aims to create a major institutional Bitcoin investment vehicle.
Columbus Circle Capital 1’s affiliation with investment bank Cohen & Company provides institutional credibility to the venture. As part of the merger agreement, Pompliano will assume the CEO position of the combined entity.
An official announcement detailing the merger and fund launch is expected shortly, marking a significant institutional advancement in Bitcoin investment infrastructure.