Solana Treasury Startup Helius Raises $500M in Pantera-Led Round, Stock Price Triples

Helius Secures $500M to Build Solana Treasury Firm, Stock Triples

Helius Medical Technologies (HSDT) unveiled Monday it has raised more than $500 million in a private round to launch a Solana-focused treasury vehicle, positioning itself as a direct competitor to other newly formed digital asset treasuries.

The entity will use Solana’s native token (SOL) as its reserve asset, with plans to scale past $1.25 billion through stock warrants linked to the deal. The financing was led by Pantera Capital and Summer Capital, with additional backing from Animoca Brands, FalconX, and HashKey Capital.

Following the announcement, HSDT shares surged more than 200% in pre-market trading, climbing above $24. Despite the news, SOL slipped 4% over the last 24 hours.

The initiative enters a competitive market led by Forward Industries (FORD), which last week confirmed the purchase of 6.8 million SOL worth about $1.58 billion using funds from its $1.65 billion war chest, supported by Galaxy Digital and others.

Helius’ strategy goes beyond accumulation. The firm intends to generate yield from its holdings through Solana’s staking rewards — averaging 7% — while also deploying tokens across decentralized finance (DeFi) and lending markets.

Incoming executive chairman Joseph Chee, founder of Summer Capital and a former UBS banker, will lead the digital asset strategy alongside Pantera Capital’s Cosmo Jiang and Dan Morehead.

“With our experience helping shape earlier digital asset treasury ventures, we’re confident in establishing the leading Solana-focused vehicle,” Jiang said. “This is an opportunity to replicate the kind of shareholder value creation pioneered by MicroStrategy — but centered on accelerating Solana adoption.”

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