Helius Raises $500M for Solana Treasury Vehicle, Shares Spike
Helius Medical Technologies (HSDT) said Monday it has raised more than $500 million in private financing to launch a Solana-focused treasury, sending its stock price up more than 200% in pre-market trading.
The new vehicle will accumulate Solana’s native token (SOL) as its reserve asset, with plans to scale holdings beyond $1.25 billion through stock warrants tied to the deal. Pantera Capital and Summer Capital led the round, joined by Animoca Brands, FalconX, and HashKey Capital.
The announcement comes amid rising competition in digital asset treasuries. Forward Industries (FORD), backed by Galaxy Digital, disclosed last week it had already acquired 6.8 million SOL worth $1.58 billion from its $1.65 billion pool.
Helius said its strategy will extend beyond accumulation, seeking yield through Solana’s staking rewards — currently near 7% — while deploying assets into DeFi and lending protocols.
Joseph Chee, founder of Summer Capital and former UBS banker, will serve as executive chairman and oversee digital asset strategy alongside Pantera’s Cosmo Jiang and Dan Morehead.
“This is an opportunity to replicate MicroStrategy’s playbook in bitcoin, but with a focus on accelerating adoption of Solana,” Jiang said.
