Pantera Supports $500M Raise for Helius; Solana Treasury Company’s Stock Jumps 200%+

Helius Raises $500M for Solana Treasury, Stock Surges Over 200%

Helius Medical Technologies (HSDT) said Monday it has secured more than $500 million in private financing to establish a Solana-focused treasury company, positioning itself as a major new player in the growing digital asset treasury sector.

The new vehicle will hold Solana’s native token, SOL, as its reserve asset, with plans to scale beyond $1.25 billion through stock warrants tied to the transaction. The raise was led by Pantera Capital and Summer Capital, with participation from Animoca Brands, FalconX, and HashKey Capital.

Shares of HSDT more than tripled in pre-market trading, climbing above $24 after the announcement, even as SOL slid 4% in the past 24 hours.

Helius will compete with Forward Industries (FORD), which recently confirmed the purchase of 6.8 million SOL worth $1.58 billion, backed by Galaxy Digital and others.

Helius plans to generate income from its holdings through Solana staking rewards of roughly 7%, while also deploying tokens into DeFi and lending opportunities. Incoming executive chairman Joseph Chee, founder of Summer Capital and a former UBS banker, will lead the firm’s digital asset strategy alongside Pantera’s Cosmo Jiang and Dan Morehead.

“This is a chance to create the leading Solana treasury vehicle and accelerate adoption, in the same way MicroStrategy drove value creation with bitcoin,” Jiang said in a statement.