A coalition of Bitcoin investors is preparing to acquire SGA Co., Ltd., a software provider listed on KOSDAQ in Seoul. This group includes Sora Ventures, AsiaStrategy, Metaplanet CEO Simon Gerovich, and KCGI, a leading private equity firm in South Korea.
SGA Co. has confirmed the issuance of 58,862,249 new common shares, raising approximately ₩34.49 billion ( around 25 million USD ), with AsiaStrategy becoming the largest shareholder. SGA intends to use the new capital to support operations and business development in the digital asset sector.
This announcement comes after the group made an acquisition proposal for DV8, a Thai electronics company, in order to expand the adoption of Bitcoin in Southeast Asia. Jason Fang from Sora Ventures stated that they are seeking partners in the Philippines, Vietnam, Indonesia, and Malaysia.
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