DeFi Development Corp. Raises $24 Million to Expand Solana Strategy
DeFi Development Corp.—recently rebranded from Janover—has raised $24 million through a private equity deal aimed at expanding its Solana (SOL) strategy and supporting broader business initiatives.
The fresh capital will help the firm grow its existing SOL holdings and increase its participation in staking activity to earn rewards.
The investment comes just weeks after the company’s name change in April, signaling a sharper focus on digital assets.
As of May 1, the firm had accumulated over 317,000 SOL tokens, valued at around $46.2 million including staking returns.
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Backers of the funding round include a mix of major players in the digital asset space, such as Galaxy Digital, Republic Digital, Borderless Capital, Arrington Capital, and others. Under the agreement, DeFi Development Corp. is offering roughly 310,000 shares at $46 each, along with pre-funded warrants covering an additional 215,000 shares. At the time of the announcement, its Nasdaq-listed stock (JNVR) was trading at $76.36.
Alexander Stefanov
