TechFlow news, September 8 — According to Business Wire, Forward Industries (Nasdaq: FORD), a publicly traded U.S. company, announced a $1.65 billion private investment in public equity (PIPE) in cash and stablecoins led by Galaxy Digital, Jump Crypto, and Multicoin Capital, to launch a Solana-focused digital asset management strategy.
The report stated that this private placement marks the largest funding round to date for a digital asset management firm focused on Solana. Upon completion of the transaction, Kyle Samani, Co-Founder and Managing Partner of Multicoin Capital, will become Chairman of the Board. Chris Ferraro, President and Chief Investment Officer of Galaxy Digital, and Saurabh Sharma, Chief Investment Officer of Jump Crypto, will serve as Board observers.
Forward Industries plans to collaborate with the three lead investors to generate differentiated on-chain returns through active participation in the Solana ecosystem and create long-term value for shareholders.
