Twenty One Capital raises an additional $100 million through secured convertible bonds, reaching a total of $685 million raised for its merger with Cantor Equity Partners.
Existing investors, including Tether and iFinex, subscribed to this new tranche, bringing the funds raised through convertible notes to $485 million, in addition to $200 million in PIPE.
Led by Jack Mallers and supported by a SPAC structure, the company aims to become a Nasdaq-listed player focused on Bitcoin as a treasury reserve, similar to MicroStrategy.
Twenty One Capital reaches $685 million raised
The corporate Bitcoin strategy enters a new chapter. The young company Twenty One Capital, specializing in BTC treasury, has just raised an additional $100 million through secured convertible bonds, bringing the total amount raised to $685 million. The move precedes its highly anticipated merger with Nasdaq-listed Cantor Equity Partners.
A structured raise from already involved investors
This new funding tranche comes from investors already present in the capital, who exercised a negotiated option in the previous round in April. The issued bonds carry a 1% coupon and will mature in 2030. With this injection, the firm reaches $485 million raised through convertible notes, in addition to the $200 million obtained in PIPE (Private Investment in Public Equity) announced last month.
Tether, iFinex, and Jack Mallers in the cockpit
The project is led by Brandon Lutnick, son of former Cantor Fitzgerald president, Howard Lutnick, and current U.S. Secretary of Commerce, through a SPAC structure backed by Cantor Equity Partners. The investor lineup is impressive: Tether, iFinex (parent company of Bitfinex), and other heavyweights are involved. The CEO role will be taken on by Jack Mallers, the founder of Strike, already a key figure in the Bitcoin ecosystem.
With such a setup, Twenty One Capital clearly positions itself as the natural heir to MicroStrategy (MSTR) in the realm of publicly traded crypto treasury strategies.
A Bitcoin strategy on an industrial scale
In early May, the company had already made waves by announcing the acquisition of $458 million in Bitcoin, confirming a strategy firmly focused on accumulating digital assets as a store of value.
