Polychain Capital leads $110 million investment to kickstart a Berachain crypto treasury
Polychain Capital is leading an $110 million financing deal for Greenlane Holdings to acquire BERA tokens for the Berachain ecosystem treasury.Summary
Crypto venture firm Polychain Capital is spearheading a $110 million private investment in public equity (PIPE) deal for Nasdaq-listed Greenlane Holdings (GNLN) to establish a treasury holding BERA, the native token of the Berachain ecosystem. Other investors include Blockchain.com, CitizenX, dao5, Kraken, and North Rock Digital. Greenlane aims to raise $50 million in cash and $60 million in BERA tokens through the sale of Class A shares and warrants, with BERA intended to be the company's primary treasury reserve asset. Following the announcement, GNLN shares surged significantly. The BeraStrategy initiative, which will direct the treasury, will be led by Chief Investment Officer Ben Isenberg, with Bruce Linton joining as chairman. Berachain is an EVM-compliant Layer-1 blockchain launched in February 2025, utilizing a Proof-of-Liquidity consensus mechanism.
(Source：The Block)