UAE-based Pulsar Group, a virtual assets-focused investment and advisory group, has led a USD 300 mn private investment in Nasdaq-listed crypto treasury firm Brera, which has now rebranded to Solmate, according to a statement. Also participating in the investment round in the firm, which holds stakes in sports teams: the Solana Foundation, RockawayX, and ARK Invest.

The company plans to develop crypto infrastructure projects in the UAE, with the first being bare metal servers in Abu Dhabi, in a bid to outperform traditional validator setups and give regional investors access to Solana’s staking yields, the statement said. It also plans to stake SOL tokens — the native cryptocurrency on the Solana blockchain.

A dual listing on the table? The company plans to dual list on a UAE exchange, the statement said, without clarifying the timeline or the venue it would choose.

ADVISORS- Cantor Fitzgerald & Co is the financial advisor and sole placement agent for the PIPE financing. Lowenstein Sandler is acting as legal advisor to the investing consortium, while DLA Piper is acting as legal advisor to Cantor Fitzgerald & Co. Boustead Securities is Brera’s majority shareholder’s advisor, and Wachsman is the communications and strategy firm for the transaction and the agency of record for Solmate.

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