ARK Invest, Solana Foundation back new $300M Solana digital asset treasury Solmate

Key Takeaways

• Solmate launches as a Solana-based digital asset treasury backed by Ark Invest, Pulsar Group, and the Solana Foundation.
• The company will establish advanced Solana staking infrastructure in the UAE, providing regional investors access to Solana yields.

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Brera Holdings PLC, the multi-club football ownership group, said Thursday it will rebrand as Solmate, a Solana-focused digital asset treasury and crypto infrastructure firm, after securing $300 million through an oversubscribed PIPE deal.

Backed by the Solana Foundation, RockawayX, and Ark Invest, the PIPE was arranged by UAE-based Pulsar Group and will see Marco Santori, Kraken’s former top lawyer, take the helm as CEO.

The company plans to establish a cutting-edge Solana staking infrastructure in the UAE, including bare metal servers in Abu Dhabi designed to outperform typical DAT validator strategies.

The infrastructure will allow regional investors to access Solana’s yield-generating capabilities through a Middle East-based validator for the first time.

“Solmate is not just another treasury. It will execute on a durably differentiated strategy in a crowded field of look-alike DATs by building real crypto infrastructure in the UAE,” said incoming CEO Marco Santori. “Our stakeholders have deep, long-term conviction in the Solana ecosystem and will demand that we accumulate SOL through bull markets and bear markets alike.”

The board lineup will include Dr. Arthur Laffer and Viktor Fischer of RockawayX, alongside two seats reserved for Solana Foundation appointees. Solmate’s mission is to cement the UAE as Solana’s global capital while still running Brera Holdings’ international sports portfolio.

“At Pulsar, we are committed to positioning Solana at the heart of the UAE’s digital transformation,” said Pulsar Group CEO Alyazi Al Khattal. “By empowering Solmate to build exclusive partnerships and leverage Solana’s unique proximity to key regional stakeholders, together we expect to accelerate adoption, nurture a dynamic developer community, and facilitate major blockchain innovation across the region.”

Momentum is building in Solana-focused digital asset treasuries.

Earlier this week, Helius Medical Technologies closed a $500 million oversubscribed raise with backing from Pantera Capital and Summer Capital as it shifted reserves to Solana.

Forward Industries recently locked in $1.65 billion through a public equity raise led by Galaxy Digital, Jump Crypto, and Multicoin Capital to launch its own Solana treasury program.

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