Sponsored by UAE based Pulsar Group, with prominent investment from UAE investors as well as backing from Solana Foundation, Breraa Holdings, now Solmate, a Solana-based digital asset treasury (“DAT”) and crypto infrastructure company, has raised $300 million following an oversubscribed private investment in public equity (“PIPE”) offering, with the secured funds being used for revenue generating crypto infrastructure projects in UAE.
As per the press release, Solmate aims to place Solana’s blockchain-based solutions at the heart of the UAE’s digital transformation agenda through the deployment of cutting-edge infrastructure and performant staking strategies. Solmate intends to direct a portion of the funds secured into revenue-generating crypto infrastructure projects in the UAE, the first of which will be bare metal servers in Abu Dhabi configured to outperform typical DAT validator strategies.
Solmate’s planned Solana validator would, for the first time, allow regional investors the opportunity to capitalize on Solana’s native yield-generating capability with a performant SOL validator in the Middle East.
The PIPE was sponsored by Pulsar Group, the UAE technology and blockchain advisory firm, with backing secured from the Solana Foundation, RockawayX, and traditional investment firms like ARK Invest. Marco Santori, former Kraken Chief Legal Officer, will become Solmate’s Chief Executive Officer. Solmate also received unparalleled access to capital from prominent UAE investors.
Solmate expects to enter into a definitive agreement, following an already-executed letter of intent with the Solana Foundation, which would lower the entry price for $SOL accumulation, allowing Solmate to supercharge $SOL-per-share growth into the future.
Solmate CEO, Marco Santori said, “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. 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. Solmate is well-positioned as Solana adoption accelerates across institutional markets, DeFi, NFTs and AI.”
Pulsar Group CEO, Alyazi Al Khattal said, “At Pulsar, we are committed to positioning Solana at the heart of the UAE’s digital transformation. 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.”
According to an X post by MartyParty, the UAE-backed entity is reportedly planning a $1 billion $SOL allocation. This launch follows Pantera’s involvement in larger $SOL treasury raises, such as a $1.25 billion U.S.-listed vehicle announced earlier in September.
