Strive, Led by Ramaswami, Secures $750M to Back Alpha-Focused Bitcoin Investment Strategy
Strive Raises $750M to Launch Alpha-Seeking Bitcoin Strategy, Eyes $1.5B in Total Buying Power.
Strive, the asset management firm founded by entrepreneur and former presidential candidate Vivek Ramaswamy, has raised $750 million to fund what it calls "alpha-generating" Bitcoin acquisition strategies. If associated warrants are exercised, the total could double to $1.5 billion—positioning Strive among the largest corporate holders of Bitcoin.
Announced on May 27, the raise will support a range of high-conviction strategies designed to outperform Bitcoin’s baseline returns. These include purchasing undervalued biotech companies, acquiring distressed Bitcoin-related claims stemming from hacks and bankruptcies, and buying the lowest tranches of Bitcoin credit vehicles at discounted prices.
“Our alpha-generating Bitcoin accumulation strategies are designed to drive sustained outperformance relative to Bitcoin itself, which requires a new valuation framework,” said Matt Cole, CEO of Strive.
The funding round was completed via private investment at a price of $1.35 per share and was conducted in partnership with Asset Entities, a marketing firm Strive plans to merge with. The firm previously revealed intentions to go public through a reverse merger with Asset Entities earlier this month.
Strive also disclosed in a May 20 regulatory filing that it plans to purchase 75,000 BTC in claims from the bankrupt crypto exchange Mt. Gox, specifically targeting legally recognized claims nearing distribution.
The company entered the Bitcoin space in November 2024 by offering the asset to clients and subsequently applied for regulatory approval to launch a Bitcoin bond ETF.
Ramaswamy, who amassed his fortune through biotech giant Roivant Sciences, briefly ran against Donald Trump in the 2024 Republican primaries before endorsing the former president. In March 2025, Trump signed an executive order to create a national strategic Bitcoin reserve and digital asset stockpile—an act that has further fueled institutional interest in Bitcoin as a strategic asset.
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