今天，我很高兴地宣布，Multicoin Capital、Jump Crypto（最大的加密交易公司）和Galaxy（最大的加密金融集团）已筹集 1.65 亿美元私人基金 投资给 Forward Industries, Inc.（纳斯达克股票代码：FORD），融资策略是该公司用所得净收益奠立 Solana 存储公司。。每位赞助商承诺投资不少于 1 亿美元。 在 Multicoin 的承诺金额之外，我本人将额外投入 2500 万美元，因为我相信公司的发展前景。
除赞助商外，PIPE 还获得了来自数字资产生态系统的多个全球投资机构和领导者的支持与参与，包括：
- 事务所/公司：Big Brain Holdings、Bitwise Asset Management、Borderless Capital、Coinlist Alpha、CyberFund、C/M Capital Partners、LP、FalconX、Graticule Asset Management Asia、Jupiter、L1D、ParaFi、Ribbit Capital、RockawayX 和 SkyBridge Capital。
- 天使投资者：Cindy Leow（Drift）、Guy Young（Ethena）、Howard Lindzon（Stockwits）、Lucas Bruder（Jito）、Lucas Netz（Pudgy Penguins）、Robert Leshner（Superstate）、Tarun Chitra（Gauntlet）和 Tory Green（io.net）。
私人基金投入这家上市公司是在今天成交的，我也因此被任命为公司董事会的主席。 早在 2018 年初，我就主管 Solana 的种子轮融资，是 Solana 最早最引人注目的倡导者之一，我欣然抓住时机、接受了这一职位。 至于我在 Multicoin 的职责，一切照旧；我将继续担任经营合伙人。
作为成交的一部分，Jump Crypto 的首席投资官 Saurabh Sharma与Galaxy 的总裁兼首席投资官 Chris Ferraro 被授予董事会观察员资格。 我热切期待着与他们的合作。
SOL DATs
Solana 拥有一个充满活力、多元化、富于竞争性、蓬勃发展的去中心化金融生态系统，包括十几个成熟的团队。 因此，Forward Industries 有机会将其 SOL 资金投入 DeFi，目标是为股东产生差异化收 益来源，这可能进一步加速 SOL 收购。
虽然我们预计 SOL 基金将参与质押和去中心化金融的运作，我们还发现了 Multicoin 自认已具备条件做进一步探索的其他策略：
- 首先，依仗其投资方团队在 Solana 生态系统中深厚的人脉网络（可追溯到 2018 年的种子轮融资），Multicoin 认为公司在收购折扣且锁定的 SOL 方面，处于独特的地位。
- 其次，除了质押和参与去中心化金融等明显的链上活动外，公司还发现了一个潜在规模大且利润丰厚的设计空间，可以利用银行为上市公司提供的资本成本与去中心化金融提供的资本成本之间的差额进行套利。我们认为，在众多交易对手之间，这种套利策略可能会有多种不同的表现方式。
- 第三，考虑到支持者的背景资历、公司的雄厚资金以及支持者对 Solana 生态系统的深入了解和紧密关系，公司认为自己能够利用这些资源与 Solana 的重要协议和应用达成合作，旨在通过改善流动性，为公司股东增加收益。
Michael Saylor 率先推出了数字资产库（DAT）的公司战略，将比特币用作 Strategy, Inc. 的企业储备资产。因此，他将公司方针的北极星定义为增加“每股的比特币值”。Forward Industries 现在打算以 Saylor 开创的模式为原型，用 SOL 作为其数字资产库战略的储备资产。同样，Multicoin 投资时，期待该公司将以提升每股的SOL价值为北极星方针，通过对公司资金的有针对性的策略和主动管理来推动股东价值增长。
我们认为 SOL 是支撑 DAT 的最佳资产；它拥有 BTC 和 ETH 所不具备的一些独特属性。
通过质押，SOL 自身能生成真实收益。 SOL 的“收益”来源于社会整体的经济活动以及 个人为最大 可提取价值所采取的博弈手段。在过去几年中，Multicoin 多次撰写并发表关于 MEV 的文章。对于 Solana，截止至 2025 年 9 月，SOL 质押者获得了人均 8.05% 的收益，其中包括约 6.19% 的通货膨胀，和约 1.86% 源于社会经济活动和个人博弈手段的实际收益。大约每隔 2.5 天会付给 SOL 质押者此项收益。 2025 年至今为止，ETH 质押的名义收益约为 3.21%，但 2.81% 源于通货膨胀，实际收益仅约 0.41%。 作为构建永久资本工具的基石，我们认为这将使 SOL 成为 DAT 极具吸引力的资产。
鉴于 SOL 的固有特性，我们认为将 Strategy 推广的可转换永续优选股结构用于 SOL DAT 会产生比用于 BTC DAT 更好的效果。 公司可以将源于这些渠道的收益用于必要支出，这是 BTC-DATS 无法做到的。 比特币的实际收益为零。
我期待着，以董事长的身份，与公司一起探讨并实施这些策略。公司正在积极招聘多种职位，包括高级管理和C级高管职位。 要了解更多信息，请访问公司网站。
免责声明：本博文由 Kyle Samani 以 Multicoin Capital Management LLC 经管合伙人身份撰写，而非 Forward Industries, Inc. 董事长身份。
脚注：
/欢迎 Brian Strugats 加入 Multicoin Capital
今天，我们很高兴欢迎 Brian Strugats 加入 Multicoin Capital 担任我们的新任首席交易员。 Brian 将负责基金的最佳运行，并管理与合约另一方的关系。
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