Anthony Pompliano, co-founder of Morgan Creek Digital Assets and Crypto influencer, is preparing to launch a new Bitcoin-centric investment vehicle aimed at raising $750 million through a merger with Columbus Circle Capital 1.
The new entity, called Procapbtc, is reportedly securing a fresh equity commitment of $500 million along with a $250 million conversion obligation.
The funding follows the merger with Columbus Circle Capital 1, a special purpose acquisition company that was published in May with support from investment bank Cohen & Company Capital Markets.
The terms of the transaction have not been finalized, but it could be announced soon next week, according to the report.
Expansion of code exposure
Columbus Circle Capital 1 is one of several SPACS sponsored by Cohen & Company, a New York Stock Exchange-listed company that is increasingly active in the digital assets sector.
Banks with roots in traditional capital markets and asset management have expanded to audit, tax and advisory services for cryptocurrency exchanges, token issuers, inappropriate tokens (NFTs), and decentralized financial projects.
Columbus Circle Capital 1 raised $250 million in its initial public offering in May 2025. In particular, it targeted mergers with companies in emerging sectors such as blockchain and digital payments.
The reported release of ProcapbtC follows the successful list of Procap Acquisition from Procliano, another SPAC focusing on the financial technology sector. The Procap acquisition debuted on the Nasdaq in April, raising $250 million by selling 25 million units for $10 each.
Pompliano, a well-known Bitcoin advocate and podcast host, has not confirmed ProCAPBTC’s reported merger plans through social media or through official statements.
If confirmed, the deal adds to the recent wave of large in-house Bitcoin investment vehicles, highlighting the updated appetite for direct exposure to Bitcoin, amid increasing acceptance of digital asset classes.
