DeFi Development Corp.—recently rebranded from Janover—has raised $24 million through a private equity deal aimed at expanding its Solana (SOL) strategy and supporting broader business initiatives.
The fresh capital will help the firm grow its existing SOL holdings and increase its participation in staking activity to earn rewards.
The investment comes just weeks after the company’s name change in April, signaling a sharper focus on digital assets.
As of May 1, the firm had accumulated over 317,000 SOL tokens, valued at around $46.2 million including staking returns.
Backers of the funding round include a mix of major players in the digital asset space, such as Galaxy Digital, Republic Digital, Borderless Capital, Arrington Capital, and others. Under the agreement,
DeFi Development Corp. is offering roughly 310,000 shares at $46 each, along with pre-funded warrants covering an additional 215,000 shares. At the time of the announcement, its Nasdaq-listed stock (JNVR) was trading at $76.36.
Digital asset investment products recorded $1.04 billion in inflows last week, pushing total assets under management (AuM) to a record high of $188 billion, according to the latest report from CoinShares.
The U.S. Securities and Exchange Commission (SEC) is reportedly expediting the review process for spot Solana (SOL) exchange-traded funds, pushing issuers to submit amended S-1 filings by the end of July.
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