Sora Ventures
- Company typePrivate
- Founded2018
- HeadquartersTaipei, Taiwan
- Headcount1–10
- GTM typeB2B
- OfferingServices
What Sora Ventures does
Sora Ventures is an Asia-Pacific focused venture capital and private investment firm that operates an operator-led model in Bitcoin treasury companies and digital asset infrastructure. Founded in 2017/2018 by Jason Fang (previously of Fenbushi Capital) and headquartered in Taipei, the firm manages three investment vehicles: Fund I ($28M, 2018) which deployed into 70+ web3 and crypto companies, Fund II ($20M, 2024) which marked the strategic pivot toward Bitcoin treasury companies in Asian public markets, and Fund III ($1B target, 2026) which is currently raising from institutional investors and family offices to scale the operating model across Asia-Pacific. In addition, Sora launched two dedicated Bitcoin treasury vehicles in 2025: a $150M Asia-focused fund and a $1B treasury fund backed by $200M in committed capital targeting $1B of BTC purchases within six months.
The firm's core activity is acquiring strategic control positions in undervalued publicly listed companies across Asia and rebuilding them with Bitcoin treasury strategies and digital asset infrastructure. Six "listcos" have been architected: Metaplanet (TSE:3350, Japan), Moon Inc (HKEX:1723, Hong Kong), DV8 (SET:DV8, Thailand), Bitplanet (KOSDAQ:049470, South Korea), AsiaStrategy (NASDAQ:SORA, US-listed after the merger with Top Win International), and Falcon Power (TWSE:1516, Taiwan). Founder Jason Fang serves as Chairman or CEO across most of these vehicles. Portfolio companies collectively hold 41,239 BTC with a stated +114% eighteen-month portfolio ROI. The firm also invests in enabling infrastructure, notably leading the angel round for Saturn's USDat, a yield-bearing stablecoin protocol offering 11%+ returns backed by Strategy's STRC digital credit.
Sora generates revenue through conventional fund management economics (management fees plus carried interest) plus operational value creation in its portfolio companies through board roles, capital markets activity, and treasury strategy execution. Distribution is exclusively referral and introduction based, targeting qualified institutional investors, accredited family offices, and strategic partners; the firm does not accept unsolicited pitches. Marketing is concentrated around the annual Sora Summit event series (held since 2018), industry conferences, and earned media in crypto-native outlets. Sora maintains an active presence in Japan, Korea, Thailand, Hong Kong, Taiwan, and the United States through its six portfolio companies and co-investment partnerships with UTXO Management, BTC Inc / Bitcoin Magazine, YZi Labs, KCGI, and Kliff Capital.
Sora Ventures firmographics
Firmographics- Name
- Sora Ventures
- Legal name
- Sora Venture
- Website
- https://sora.vc
- Company type
- Private
- Founded year
- 2018
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Ownership category
- akta.pro rank
Sora Ventures industry classification
Industry- Product category
- Venture Capital & Private Equity (Digital Asset Focus)
- NAICS
- All Other Financial Investment Activities (52399), Portfolio Management and Investment Advice (52394)
- SIC
- Finance Services (6199), Investment Advice (6282)
- akta.pro primary industry
- Digital Assets / Crypto Fund of Funds (FSAHAKAL)
Keywords
Where Sora Ventures is headquartered
LocationHeadquarters
- HQ city
- Taipei
- HQ country
- Taiwan
- HQ region
- Asia
Offices1 record
Markets served
Sora Ventures business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Technology or R&D, Others
Revenue model
- Fund Management: Sora Ventures generates revenue through management fees and carried interest from three investment funds: Fund I ($28M, 2018), Fund II ($20M, 2024), and Fund III ($1B, 2026). The firm deploys institutional capital into Asia's digital asset ecosystem through disciplined, operator-led strategies.
- Strategic Control Investments: The firm acquires and operates publicly traded companies, taking strategic control and implementing Bitcoin treasury strategies. Revenue comes from value creation in portfolio companies through operational improvements and capital markets activities.
Go-to-market motion2 records
Distribution channels2 records
Marketing channels5 records
Sora Ventures product offering
Product offeringCore offering
Sora Ventures is an Asia-Pacific focused venture capital and strategic investment firm that manages three investment funds (Fund I $28M 2018, Fund II $20M 2024, Fund III $1B 2026) deploying capital into Bitcoin treasury companies and digital asset infrastructure. The firm operates an operator-led model, acquiring and taking strategic control of undervalued public companies across Asia (Japan, Korea, Thailand, Hong Kong, Taiwan, and NASDAQ) and rebuilding them with Bitcoin treasury strategies. Additionally, Sora developed the USDat stablecoin protocol delivering 11%+ yield backed by Strategy's STRC digital credit.
Product overview
Sora Ventures is an Asia-Pacific focused Bitcoin treasury and digital asset venture firm operating a multi-fund structure. The firm operates three investment funds: Fund I (2018, $28M, 70+ web3/crypto investments), Fund II (2024, $20M, 15+ Bitcoin treasury investments), and Fund III (2026, $1B flagship institutional fund). Additionally, Sora Ventures has developed the USDat stablecoin protocol, a yield-bearing stablecoin delivering 11%+ returns backed by Strategy's STRC digital credit. The firm's operator-led model involves acquiring and rebuilding undervalued public companies for the digital asset era, with portfolio spanning Metaplanet (Japan), Moon Inc. (Hong Kong), DV8 (Thailand), Bitplanet (South Korea), AsiaStrategy (Nasdaq: SORA), and Falcon Power (Taiwan).
Differentiator
Problem solved
Functional benefit
Brands
- Sora Ventures Fund I: Sora's inaugural fund (2018) establishing foundational presence across Asia's emerging web3 and crypto ecosystem with 70+ investments
- Sora Ventures Fund II
- Sora Ventures Fund III
- Sora Summit
- Sora Academy
Products and services
- Sora Ventures Fund I Inaugural venture capital fund establishing foundational presence across Asia's emerging web3 and crypto ecosystem. Deployed across 70+ companies spanning Bitcoin infrastructure, DeFi, privacy, and decentralized science with $28M AUM raised in 2018.
- Sora Ventures Fund II Second fund marking Sora's strategic pivot toward Bitcoin treasury companies in Asian public markets. Capital deployed into listed companies where Sora takes strategic control and implements disciplined Bitcoin treasury strategies. $20M fund with 15+ investments.
- Sora Ventures Fund III Flagship institutional fund designed to scale the Bitcoin treasury operating model across Asia-Pacific's most significant capital markets. $1B fund targeting one listed company per country built and governed from the inside, available to qualified institutional investors and accredited family offices.
- USDat Stablecoin Protocol Yield-bearing stablecoin protocol delivering 11%+ annual yield backed by Strategy's STRC digital credit and U.S. Treasury bills. Brings Bitcoin-linked yield opportunities onchain and bridges traditional finance with DeFi infrastructure, targeting double-digit yields at $10 billion scale using Bitcoin credit markets.
- Asia Bitcoin Treasury Fund ($150M) $150 million fund advancing Bitcoin-focused treasury strategies among listed companies across Japan, Hong Kong, Thailand, Taiwan, and South Korea. Targets Asia's listed firms seeking to emulate MicroStrategy's Bitcoin strategy and optimize Bitcoin treasuries.
- Asia Bitcoin Treasury Fund ($1B) Asia's first $1 billion Bitcoin treasury fund backed by $200 million commitment from partners and investors. Aims to purchase $1 billion in Bitcoin within six months to support existing treasury firms (Metaplanet, Moon Inc., DV8, BitPlanet) and fuel creation of similar treasuries globally.
Quantifiable outcome
- Portfolio companies hold 41,239 BTC with +114% 18-month ROI
- +2 more outcomes
Companies that use Sora Ventures
Customer profileNamed customers3 records
Segments4 records
Ideal customer profiles4 records
Sora Ventures technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Sora Ventures partnerships and signals
Strategic signalPartnerships
Eight partnerships are on record, tiered core and flagship.
- Falcon PowercoreJason Fang appointed Chairman of Taiwan-listed Falcon Power Co. Ltd. (TWSE:1516), an energy materials trading company exploring Bitcoin treasury and digital asset strategies.
- SaturncoreSora Ventures led the angel round for Saturn, a yield-bearing stablecoin protocol delivering 11%+ yield backed by Strategy's STRC digital credit. Saturn is building USDat, the first stablecoin protocol to offer double-digit yields at $10B scale using Bitcoin credit markets.
- BitplanetflagshipSora Ventures-backed Bitplanet (KOSDAQ:049470) launched Korea's first fully regulated BTC purchase by a public company, targeting 10,000 BTC treasury with $40M in fresh capital. Jason Fang serves as Chairman.
- DV8flagshipSora Ventures led consortium acquisition of Thailand's DV8 (SET:DV8) through voluntary tender offer. Jason Fang appointed as CEO. DV8 pivoting to Bitcoin treasury and DeFi banking with 99.9% warrant execution raising $7.4M.
- MetaplanetflagshipSora Ventures partnered with Metaplanet to create Asia's first MicroStrategy analog. Metaplanet (TSE:3350) has amassed 7,800+ BTC valued at $800M+ with stock surging 3,600%+ since early 2024. Jason Fang served on Metaplanet's board establishing the Bitcoin Treasury model.
- AsiaStrategyflagshipSora Ventures merged with Top Win International (NASDAQ:TOPW), changing ticker to SORA and rebranding to AsiaStrategy. Jason Fang appointed Chairman, targeting Bitcoin accumulation as MicroStrategy of Asia.
- BTC Inc / Bitcoin MagazinecoreBitcoin Magazine owner BTC Inc. joined management of HK Asia Holdings with David Bailey and John Riggins taking board roles. Deepening Bitcoin strategy with Asia's first public company under Bitcoin Magazine's management.
- Moon Inc.flagshipSora Ventures and UTXO Management acquired 70.26% of Hong Kong-listed HK Asia Holdings (HKG:1723), rebranding to Moon Inc. for Bitcoin treasury strategy. Stock surged 1,600%+ since announcement.
Scale indicators6 records
Recent moves9 records
Expansion highlights5 records
Sora Ventures competitors and assessment
Company assessmentDirect peers
- Pantera Capital: One of the largest US-based crypto-native venture and token funds with an Asia allocation; Sora competes with Pantera for the same institutional LPs seeking digital asset exposure and is increasingly overlapping on Bitcoin treasury deals.
- Galaxy Digital: Public digital-asset investment and trading firm operating across venture, asset management, and BTC treasury advisory; highly comparable to Sora's combination of fund management, treasury services, and operating exposure.
- UTXO Management: Bitcoin-focused investment firm co-founded by David Bailey that co-invests with Sora across Metaplanet, Moon Inc., and other BTC treasury deals; operates a near-identical Bitcoin-treasary thesis and is Sora's most frequent deal partner.
- HashKey Capital: Hong Kong-based crypto-native venture and liquid token fund; competes with Sora for Asia-focused institutional capital and web3/Bitcoin infrastructure deals.
- Fenbushi Capital: Shanghai-based blockchain venture firm where Sora founder Jason Fang previously worked; comparable as a China/Asia-focused crypto VC, though Fenbushi is broader (token + equity) versus Sora's treasury focus.
- Animoca Brands: Hong Kong-headquartered web3 investor and operator; similar Asia base and digital-asset thesis, though more oriented toward gaming/metaverse rather than Bitcoin treasury.
Broad incumbents
- Strategy (formerly MicroStrategy): The original public Bitcoin treasury company whose playbook Sora explicitly replicates in Asia; comparable as the reference model, though materially larger in scale and not a fund manager.
- Digital Currency Group: Large crypto holding company with venture, lending, and operating subsidiaries; competes for institutional capital and Asia deal flow, but with a much broader scope than Sora's Bitcoin-treasury focus.
- Coinbase Ventures: Investment arm of Coinbase deploying across global crypto and web3; competes for institutional Asia mandates and crypto-infrastructure deals, with significantly more capital and brand reach.
Emerging players
- Metaplanet: Japan-listed Bitcoin treasury company (TSE:3350) and Sora's flagship portfolio company; comparable as a BTC treasury operator in Asia, but a portfolio company rather than a fund manager competitor.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights6 records
Customer concentration
Sora Ventures social profiles
Digital presenceSora Ventures financial estimates
Financial estimateRevenue estimate
Valuation estimate
Sora Ventures leadership team
Management profileNumber of profiles
Profiles5 records
Sora Ventures subsidiaries and ownership
Company hierarchySubsidiaries5 records
Sora Ventures funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Sora Ventures M&A and investment
M&A and investmentM&A
Investments86 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Sora Ventures
What does Sora Ventures do?
Sora Ventures is an Asia-Pacific focused venture capital and strategic investment firm that manages three investment funds (Fund I $28M 2018, Fund II $20M 2024, Fund III $1B 2026) deploying capital into Bitcoin treasury companies and digital asset infrastructure. The firm operates an operator-led model, acquiring and taking strategic control of undervalued public companies across Asia (Japan, Korea, Thailand, Hong Kong, Taiwan, and NASDAQ) and rebuilding them with Bitcoin treasury strategies. Additionally, Sora developed the USDat stablecoin protocol delivering 11%+ yield backed by Strategy's STRC digital credit.
Is Sora Ventures a public or private company?
Sora Ventures is a private company. It is classified as venture growth investor backed and is currently operating.
When was Sora Ventures founded?
Sora Ventures was founded in 2018. It employs 1 to 10 people.
Where is Sora Ventures based?
Sora Ventures is headquartered in Taipei, Taiwan, in the Asia region.
How does Sora Ventures make money?
Two revenue lines are on record. Fund Management is the primary driver. The others are strategic Control Investments.
Who are Sora Ventures's main competitors?
Direct peers on record are Pantera Capital, Galaxy Digital, UTXO Management, HashKey Capital, Fenbushi Capital and Animoca Brands. Broad incumbents are Strategy (formerly MicroStrategy), Digital Currency Group and Coinbase Ventures. Metaplanet is listed as an emerging player.
Does Sora Ventures have an API?
No public API is recorded for Sora Ventures.
What industry is Sora Ventures in?
Sora Ventures's product category is Venture Capital & Private Equity (Digital Asset Focus). Its primary akta.pro industry code is FSAHAKAL, Digital Assets / Crypto Fund of Funds. Its NAICS code is 52399 and its SIC code is 6199.