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Parataxis Holdings invested 25 billion KRW to acquire shares in Bridge Bio, planning to create a Bitcoin reserve platform in South Korea.
On June 20, according to reports, Parataxis Holdings LLC, an investment company focused on the digital asset field, is an affiliate of Parataxis Capital Management LLC. Through Parataxis Korea Fund I LLC and its subsidiaries, Parataxis Holdings has signed a final agreement with the biotechnology company Bridge Biotherapeutics, Inc. to invest 25 billion KRW, thereby acquiring a controlling stake in the company (“this transaction”). After the transaction is completed, the company plans to change its name to Parataxis Korea and continue to be listed on KOSDAQ. This transaction is still subject to customary closing conditions, including shareholder approval.
This transaction will facilitate the birth of a Bitcoin-centric reserve platform in the South Korean public market, backed by institutional investors with rich digital asset investment experience. As part of this transaction, Edward Chin, founder and CEO of Parataxis Holdings and co-founder and CEO of Parataxis Capital, will join the company’s board of directors. Andrew Kim, partner at Parataxis Capital, will serve as the company’s CEO and will also join the board. James Jungkue Lee, co-founder of Bridge Bio, will continue to lead the company’s core biotechnology business and retain a board seat.