Helius Unveils $500M Raise for Solana Treasury Push; Shares Triple
Helius Medical Technologies (HSDT) announced Monday it has secured more than $500 million in a private round to build a Solana-focused treasury vehicle, marking one of the largest capital raises in the sector this year.
The treasury will hold Solana’s native token (SOL) as its core reserve asset, with a target to scale past $1.25 billion through additional stock warrants linked to the deal. Investors in the raise include Pantera Capital, Summer Capital, Animoca Brands, FalconX, and HashKey Capital.
The news sent HSDT shares soaring more than 200% in pre-market trading to above $24. Meanwhile, SOL slipped 4% over the last 24 hours, tracking broader market weakness.
Helius enters the market as a direct competitor to Forward Industries (FORD), which recently revealed it had already purchased 6.8 million SOL valued at $1.58 billion, using funds from its $1.65 billion digital asset treasury backed by Galaxy Digital and others.
Helius said it will seek to generate returns not only from Solana staking rewards — currently yielding around 7% — but also by deploying its holdings across decentralized finance (DeFi) and lending opportunities.
Incoming executive chairman Joseph Chee, founder of Summer Capital and a former UBS banker, will lead the company’s digital asset strategy, working closely with Pantera’s Cosmo Jiang and Dan Morehead.
“With our experience structuring major digital asset treasuries, we believe Helius can establish itself as the premier Solana vehicle,” Jiang said. “It’s a chance to drive shareholder value while accelerating adoption, similar to what MicroStrategy achieved with bitcoin.”
