Parataxis CI.

Parataxis Capital Management's subsidiary, Parataxis Holdings, is seeking to establish a fund of $125 million (approximately 170 billion won), it announced on the 30th. Parataxis is an American hedge fund specializing in virtual assets that acquired Bridge Biotherapeutics, a domestic new drug development company.

Parataxis plans to execute additional investments in Bridge Biotherapeutics, a KOSDAQ-listed company, through its second fund, Parataxis Korea Fund II, which is being formed with a scale of $100 million. Previously, Parataxis signed a contract to acquire a controlling equity stake in Bridge Biotherapeutics through its first fund. The third fund, being created with a scale of $25 million, is focused on promoting additional digital asset-based financial strategies in the Korean market.

Edward Chin, CEO of Parataxis Holdings, noted, "Following the announcement of the acquisition of Bridge Biotherapeutics, interest and demand from global investors for the Bitcoin TREASURE platform that Parataxis Korea is pursuing have increased," adding, "As the initial investment capital of the Holdings is limited, we decided to create the second fund."

Cole-Frieman & Mallon LLP and Shin & Kim LLC are serving as legal advisors. Each fund will be finalized after going through procedures such as approval from relevant regulatory authorities and investor agreements.

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