Mill City Ventures III Secures $500m Equity Line to Boost SUI Treasury and Drive Web3 Talent Demand

Mill City Ventures III Secures $500 Million Equity Line to Supercharge Its SUI Treasury

Nasdaq-listed Mill City Ventures III has announced a fresh $500 million equity agreement to expand its SUI treasury, a strategy that has already seen the firm accumulate 76.2 million SUI tokens following a $276 million purchase earlier this week. The move underlines a growing trend among publicly traded companies to diversify crypto treasuries well beyond Bitcoin and Ethereum, and it has significant implications for web3 recruitment and the demand for skilled blockchain talent.

Building a Next-Generation Blockchain Treasury

The Sui network is a layer-1 blockchain engineered for low-latency, high-throughput applications in AI, gaming and decentralised finance (DeFi). Its native token, SUI, powers gas fees, staking and governance on the platform. Mill City’s expansion of its SUI holdings positions it as the only public Sui treasury operating with an official relationship with the Sui Foundation, according to Stephen Mackintosh, the firm’s Chief Investment Officer.

“This equity line is intended to give us the firepower to scale our position as the only Sui treasury on the market with an official Sui Foundation relationship,” Mackintosh said. “We are positioned to capitalise on Sui’s possible growth while scaling SUI-per-share through an institutional-grade wrapper. This brings us one step closer to streamlining public market access to a next-generation blockchain.”

Asset Diversification: Beyond Bitcoin and Ether

Mill City’s bet on SUI reflects an industry-wide pivot toward a broader basket of digital assets. Recent weeks have seen other public companies add BNB, Solana (SOL) and XRP to their corporate treasuries. This diversification trend is reshaping crypto recruitment, with businesses seeking blockchain specialists who can manage multi-asset portfolios, oversee smart-contract integrations and navigate regulatory compliance.

For those in web3 recruitment, the emergence of SUI as a treasury asset opens new avenues for crypto recruiters and blockchain headhunters to source professionals with expertise in:

Layer-1 blockchain architecture and tokenomics
Institutional-grade custodian solutions
On-chain treasury management and risk mitigation
Regulatory compliance and reporting in multiple jurisdictions

Learn more about how industry leaders are structuring their digital asset holdings in our feature on Big blockchain wins this week and the jobs they’re creating.

Market Reaction: Share Price Under Pressure

Despite the long-term vision, Mill City’s share price (MCVT) fell sharply on the news. Data from Google Finance shows an 11.4 percent drop to $4.91 on the day of the announcement, with a further 4.28 percent decline in after-hours trading. However, the stock remains up 165 percent since late July, when the company first revealed its SUI treasury strategy.

The volatility underscores the challenge public firms face when deploying equity lines to fund speculative digital-asset purchases. The need to balance capital-raising with shareholder expectations has added complexity to the mandate for crypto headhunters and web3 talent acquisition experts helping fintech firms scale their operations.

Strategic Partnerships and Institutional Backing

Earlier this week, Mill City closed a $450 million share sale to institutional investors, allocating roughly 98 percent of proceeds to SUI and the remaining 2 percent to its short-term lending business. The round counted Pantera Capital, Electric Capital, ParaFi Capital and FalconX among its backers, with Galaxy Asset Management tapped as the treasury asset manager.

Key highlights of the fundraising included:

Sale of 83 million new shares
Investment from top crypto VCs including Pantera and Electric Capital
Institutional-grade asset management by Galaxy Asset Management

These partnerships reflect the depth of interest from cryptocurrency recruiters and web3 recruitment agencies in crafting teams capable of supporting innovative treasury strategies. As more firms follow suit, the demand for specialised roles continues to rise.

Roles in High Demand: The New Frontier for Crypto Talent

As public companies build out diversified treasuries, Spectrum Search has identified a suite of roles commanding premium compensation and fierce competition for top candidates. Key positions include:

Treasury Asset Manager: Expert in multi-chain custody, staking strategies and yield optimisation.
Smart-Contract Security Auditor: Specialises in vulnerability assessments for layer-1 protocols.
Regulatory Compliance Officer: Navigates AML/KYC requirements across global markets.
On-Chain Risk Analyst: Monitors market, protocol and counterparty risks in real time.
DeFi Product Specialist: Bridges technical teams and institutional clients on structured token offerings.

The surge in demand demonstrates why firms are turning to blockchain recruitment agencies and web3 headhunters to fill specialised positions. From Navigating web3 recruitment amidst crypto calamities to entertaining new solutions, the recruitment landscape continues to evolve in response to market dynamics.

Implications for Blockchain Recruitment and Beyond

Mill City’s focus on building a public SUI treasury underlines the shifting priorities within crypto corporate strategy. For crypto recruitment and blockchain recruitment professionals, it signals a need to understand both the technological underpinnings of novel tokens and the financial engineering required to support large treasury holdings.

Agencies and in-house crypto recruiters must now assess candidates on a range of competencies:

Deep familiarity with layer-1 protocols beyond Ethereum
Experience with equity-line financing and public market disclosures
Track record in scaling token holdings under tight regulatory scrutiny
Ability to collaborate with institutional VCs and asset managers

Spectrum Search continues to track how top public and private firms are shaping their digital-asset strategies. Explore our analysis of emerging niches and career pathways in “Top 10 in-demand crypto jobs in 2025 and required skills”.

Why Web3 Talent Acquisition Matters Now

As more enterprises deploy significant capital into protocols like Sui, the need for experienced web3 recruiters and crypto recruitment agencies has never been greater. Companies must secure talent who can:

Validate token economics and model treasury scalability
Implement multi-layer security controls for institutional holders
Manage continuous token unlock schedules and market impacts
Build transparent reporting frameworks for shareholders and regulators

This heightened focus on governance and risk has led to an uptick in hiring across DeFi, layer-1 development and asset management. Our recent brief on DeFi security jobs outlines the competencies driving these roles.

Preparing for the Next Wave of Crypto Careers

The industry shift towards diversified treasury strategies is creating fresh opportunities for crypto and blockchain professionals:

DeFi recruitment specialists who can onboard smart-contract engineers
Crypto headhunters sourcing chief compliance officers for token issuers
Blockchain talent scouts for in-house asset management desks
Web3 talent acquisition leads designing tailored recruitment campaigns

Whether you’re building an in-house treasury team or supporting multiple token portfolios, aligning your hiring strategy with these emerging trends is essential. Spectrum Search remains at the vanguard of web3 recruitment and crypto talent sourcing, connecting ambitious firms with the experts they need to execute bold blockchain initiatives.