Nasdaq-listed specialty finance company Mill City Ventures III said on Monday it has raised US$450 million in a private placement to fund a corporate treasury dedicated to the Sui token, the 15th-largest digital asset by market value. The Minnesota-based lender, which provides short-term loans to small businesses, plans to acquire SUI on the open market. The financing round was led by London-based hedge fund Karatage alongside the Sui Foundation, with additional participation from Galaxy Digital, Big Brain Holdings, FalconX and Pantera Capital. Galaxy will also manage the new treasury on Mill City’s behalf, according to a joint statement. Mill City shares rose 11 % on Monday and have gained almost 270 % over the past week amid growing investor interest. The move adds to a trend of publicly traded companies diversifying balance sheets with crypto assets, following earlier initiatives by Strategy (formerly MicroStrategy) and others.