DDC Enterprise Limited, a publicly listed company focused on Bitcoin treasury adoption, has announced the successful closure of investment agreements for a $124 million equity financing round.
The financing round saw an issuance price of $10.00 per Class A share, which is near the average closing price over the past 15 trading days and represents a 16% premium to the company’s October 7, 2025, closing Class A share price. The investment was led by a consortium including PAG Pegasus Fund and Mulana Investment Management, with participation from OKG Financial Services Limited, a subsidiary of OKG Technology Holdings Limited. Norma Chu, DDC’s Founder, Chairwoman, and CEO, contributed $3 million to the round, and essentially all participating investors’ capital, including hers, is subject to a 180-day lock-up period from the closing date.
The newly raised capital is earmarked to support DDC’s Bitcoin treasury strategy and to reinforce its standing as an institutional player in the global Bitcoin treasury sector. The company currently holds 1,058 BTC and aims to accumulate 10,000 BTC by the end of 2025 through a disciplined roadmap of strategic financing and partnerships.
Norma Chu stated that the investment from PAG Pegasus Fund, OKG, and Mulana serves as a strong endorsement of DDC’s vision and the growing significance of public Bitcoin treasuries. She noted the financing contributes both capital and strategic value, marking a step in broader planned financing to support the company’s long-term strategy. Jack Li, Partner and Founder of PAG Pegasus Fund, commented on DDC’s leadership’s understanding of market needs and execution ability, anticipating the platform’s expansion beyond its core business. Gillian Wu, Founder & CEO of Mulana Investment Management, highlighted DDC’s approach to combining discipline with rapid execution in the Bitcoin treasury space. She praised DDC for developing an institutional-grade blueprint for integrating Bitcoin treasury management into a public company framework, aligning with Mulana’s investment principles. Wu expressed support for DDC’s goal to pursue an ambitious Bitcoin accumulation strategy.
DDC Enterprise Limited (NYSEAMERICAN: DDC) integrates Bitcoin as a core reserve asset while maintaining its foundation as a global Asian food platform. It is positioned at the forefront of public companies incorporating Bitcoin into their financial architecture. Maxim Group LLC acted as the exclusive financial advisor for this transaction.
PAG Pegasus Fund is a hybrid investment vehicle that targets opportunities related to industry disruption and market dislocations globally. OKG Technology Holdings Limited (HKEX: 1499) provides custody services for digital assets, operates proprietary trading, and aims to build a leading blockchain technology enterprise. Mulana Investment Management, founded by Gillian Wu and licensed by the Hong Kong SFC (Type 1, 4, 5, and 9), is a Hong Kong-based digital asset and fintech investment firm focusing on bridging institutional capital with emerging blockchain and digital finance opportunities.
