A consortium of Bitcoin native investors is planning to acquire SGA Co., Ltd., a software provider registered with Seoul-based Kosdaq, according to a July 14 statement shared with Cryptoslate.
The investor group includes SORA Ventures, ASIASTRAGEY, Metaplanet CEO Simon Gerovich, and KCGI, a well-known Korean private equity company specializing in governance-driven growth.
The group also played a prominent role in Metaplanet, a Tokyo-listed company known for converting the Ministry of Corporate Finance into Bitcoin.
SGA Co., which provides systems integration solutions to educational and public institutions, has confirmed that its board has approved the issuance of third-party shares to the consortium.
The agreement will raise approximately 344.9 billion (approximately $25 million) by issuing 58,862,249 new common stock, according to a filing with the South Korean Financial Services Commission (FSC). All shares remain locked for one year under the control of the Korean Securities Depository Institution.
The filing shows that ASIASTRAGEY received 47.2 million shares, becoming the company’s largest shareholder. Other allocations include KCGI (8.15 million shares), Pathfinder Holdings (2.3 million), and Simon Gerovich (1.16 million).
SGA will use new capital to support general operations and pursue new business initiatives in the digital assets sector. The company aims to leverage new investors’ global reach and Bitcoin first experience to drive future growth.
The announcement follows the same group of investors’ purchase bids for Thai electronics and retailer DV8, and strengthens its strategy to expand Bitcoin adoption in Southeast Asia.
Jason Fan, founder of Solaventure, hints that the consortium is focusing on new markets in the Philippines, Vietnam, Indonesia and Malaysia. According to Fang, the group is actively searching for viable partners to further expand its Bitcoin financial model across the region.
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