Cryptocurrency entrepreneur Anthony Pompliano is reportedly negotiating the launch of a new Bitcoin-focused investment vehicle. ProCapBTC, a Special Purpose Acquisition Company (SPAC) backed by investment bank Cohen & Company, aims to raise $750 million.
According to a report by the Financial Times dated June 7, a merger will combine Pompliano’s management and ProCapBTC with publicly listed Columbus Circle Capital 1. Pompliano is expected to assume the role of CEO following the deal.
Under Pompliano’s proposed leadership, the merged entity—one backed by financial advisory firm JVB Financial Group—is seeking a capital structure comprising $500 million in equity and $250 million in convertible debt.
The terms of the potential deal are still being finalized. While the Financial Times reported the discussions are ongoing, an announcement has not yet been made and the report suggested a potential “next week” timeline.
Major Investment Bank Behind Deal
Columbus Circle Capital 1, established in May 2025 to seek favorable acquisition terms from bio-pharma companies and biotechnology firms, holds a current market capitalization valued at approximately $400 million.
The blank-check company’s $250 million initial public offering was underwritten and sponsored by JVB Financial Group’s Capital Markets division (CCM).
Cohen & Company, the parent investment banking institution listed on NYSE (CVN), actively supports emerging financial technologies and digital assets as part of its advisory portfolio. JVB Financial Group also incorporates specialized cryptocurrency-related services including audits, tax advisory, and trading platform evaluations.
Pompliano Leads Fintech-Focused SPAC
This venture follows Pompliano’s established role with ProCap Acquisition (PCAPU), a fintech-focused SPAC that debuted on Nasdaq earlier in April.
Trading commenced soon after its IPO—which was initially priced at $10 per unit—concluded on May 21, raising gross proceeds of $250 million.
ProCap Acquisition’s stock price has gained nearly 12.5% year-to-date in June, rising from an initial price of $10.60 on June 1 towards a Tuesday high of $11.40 ($11.30 closing price respectively) according to TradingView data.
This six-day increase accounted for approximately 13% overall stock appreciation since its May 21 listing at $10.00.
Pompliano has not publicly confirmed these specific SPAC plans as of the publishing date referenced in the FT report. Attempts by Cointelegraph to obtain further comment regarding the proposed ProCapBTC merger received no immediate response.
