White & Case advises Multicoin Capital on investment in Forward Industries’ US$1.65 billion private placement to initiate Solana treasury strategy

Global law firm White & Case LLP has advised Multicoin Capital on its investment in a US$1.65 billion private placement in Forward Industries, Inc. to initiate a Solana-focused digital asset treasury strategy. The other lead investors in the private placement included Galaxy Digital and Jump Crypto.

Solana has emerged as one of the most innovative and widely adopted blockchain ecosystems in the world. Forward Industries' press release can be found here, which contains more information on Solana and digital asset treasury strategies.

Multicoin Capital, Galaxy Digital and Jump Crypto will provide both capital and strategic support to help Forward Industries structure and execute its Solana treasury strategy, with the goal of positioning it as the leading publicly traded institutional participant in the Solana ecosystem. Leveraging this leading group of sponsors, Forward Industries aims to generate differentiated onchain returns and build long-term shareholder value through active participation in the Solana ecosystem.

Multicoin Capital is a thesis-driven investment firm that makes long-term, high-conviction investments in category-defining companies and protocols on behalf of sophisticated families, foundations, endowments and institutional investors. Founded in 2017, the firm leverages a deep understanding and accumulated knowledge of blockchain technology and crypto markets to deliver strong, risk-adjusted returns. Multicoin Capital manages several billion across its funds and has established a track record of deploying capital across market cycles in both public and private markets.

The White & Case team was led by M&A partner Prat Vallabhaneni (New York) and Capital Markets partner Laura Katherine Mann (Houston), and included Tax partner Neil Clausen and associate Kealan Hannes (both in Houston); M&A partners Erica Hogan (New York) and Omar Hemady (Boston) and associate Edward Ernst (New York); and Capital Markets counsel Claudette Druehl (New York) and associates Bryson Manning and Daniel Quesenberry (both in Houston).

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