Co-founder of Morgan Creek Digital Assets and crypto influencer Anthony Pompliano is preparing for a new Bitcoin-oriented investment vehicle that aims to collect $ 750 million by a fusion with Columbus Circle Capital 1, the Financial Times mentioned, mentioned with the business.
The new entity, called Procapbtc, is said to protect $ 500 million in fresh stock obligations in addition to $ 250 million in convertible debts.
Fundraising would follow a merger with Columbus Circle Capital 1, a special goal acquisition company, or Spac, which was made public in May with support from Investment Bank Cohen & Company Capital Markets.
The conditions of the deal were not completed, but according to the report could be announced as quickly as next week.
Crypto exposure expand
Columbus Circle Capital 1 is one of the different Spacs sponsored by Cohen & Company, a listed company in New York that has increasingly become more active in the digital assets sector.
The bank, which has its roots in traditional capital markets and asset management, has been extended to audit, tax and advisory services for cryptocurrency exchanges, token expenditures, non-moldable tokens (NFTs) and decentralized financial projects.
Columbus Circle Capital 1 raised $ 250 million in a first public offer in May 2025, in particular to focus mergers with companies in emerging sectors such as blockchain and digital payments.
The reported launch of Procapbtc is on the heels of Pompliano’s successful list of Procap Acquisition, another Spac aimed at the financial technological sector. Procap Acquisition debuted in the Nasdaq in April and raised $ 250 million by selling 25 million units at $ 10 each.
Pompliano, a well-known Bitcoin lawyer and Podcast-Gastheer, has not confirmed the reported merger plan for Procapbtc on social media or through official statements.
If completed, the deal would contribute to a recent wave of large institutional Bitcoin investment vehicles, which underlines renewed appetite for direct exposure to Bitcoin in the midst of the growing acceptance of the digital activa class.
