DDC Enterprise, best known for its Asian food brands, has entered the big leagues. With a half-billion-dollar war chest and heavyweight backers, the company is making an audacious play to dominate corporate Bitcoin holdings.
In a press release on July 1, NYSE-listed DDC Enterprise announced the initial closing of its $528 million capital raise, backed by institutional heavyweights including Anson Funds, Animoca Brands, and Kenetic Capital.
The financing marks one of the largest Bitcoin (BTC)-dedicated raises by a publicly traded company and includes a mix of convertible notes, private placements, and an equity line of credit, all earmarked for aggressive BTC accumulation.
The move puts DDC on a radically different path from most consumer-facing companies. It also cements its position as one of the few public firms outside of tech or crypto sectors to aggressively restructure around Bitcoin.
DDCโs radical Bitcoin transformation
According to the press release, the initial closings of DDCโs $528 million financing package includes a $26 million PIPE investment from crypto-native institutions like Animoca Brands and Kenetic Capital, a $25 million convertible note from Anson Funds (with $275 million more available), and a $2 million private placement.
Perhaps most strategically significant is the $200 million equity line of credit, giving DDC dry powder to accumulate Bitcoin opportunistically during market dips.
This isnโt just treasury diversification; itโs a full-scale financial pivot. While DDC maintains its Asian food brands like DayDayCook and Yaiโs Thai, its balance sheet is being radically reshaped. The companyโs previous announcement in June made its ambitions clear: โSubstantially all of the capital raise will be dedicated to expanding the Companyโs Bitcoin treasury.โ
CEO Norma Chuโs vision leaves little room for ambiguity:
โThis maximum aggregate $528 million capital commitment marks a watershed moment for DDC. With premier institutions such as Anson Funds, Animoca Brands, and Kenetic Capital backing our vision, we believe we have unprecedented capacity to execute our mission of building one of the worldโs most valuable corporate Bitcoin treasuries and becoming a top global Bitcoin holder.โ
DDCโs bet hinges on Bitcoinโs long-term appreciation outpacing traditional investments. With spot ETFs funneling institutional money into BTC and the 2024 halving historically preceding bull cycles, DDCโs timing aligns with a macro narrative gaining Wall Street credence. Yet risks loom: regulatory uncertainty, Bitcoinโs volatility, and the specter of illiquidity if markets swing erratically.ย
