Telegram ecosystem closes $71M capital raise competing initial TON purchase

On Friday, the Telegram ecosystem, through AlphaTON Capital, completed a $71 million financing round and allocated an initial $30 million to purchase a tranche of TON tokens. AlphaTON plans to expand its TON treasury to $100 million by Q4 2025.

AlphaTON Capital closed its financing round of approximately 6.32 million ordinary shares at $5.73 per share, raising its gross proceeds by $36.2 million. It also closed a $35 million loan facility with BitGo Prime. 

Shareholders get exposure to the Telegram ecosystem

🪙 TON (The Open Network) is an infinitely scalable blockchain that we helped develop years ago to meet the needs of Telegram’s hundreds of millions of users. Today, TON is the economic backbone of Telegram — much like a national currency powers a country’s economy.

— Pavel Durov (@durov) August 5, 2025

AlphaTON Capital said the initiative establishes the institutional investment company as one of the largest global holders of TON. It also provides shareholders with significant exposure to Telegram’s billion-user ecosystem.

The TON treasury firm has strategic relationships with BitGo, Animoca Brands, SkyBridge Capital, Kraken, DNA, DWF Labs, Crypto.com, TwinStakes, P2P, and Alpha Sigma Capital. According to the announcement, Chardan Capital Markets acted as the exclusive placement agent for the initiative. The private placement also included legal advisors, such as Hogan Lovells U.S. LP, Golenbock Eiseman Assor Bell & Peskoe LLP, Forbes Hare LLP in the British Virgin Islands, and Lucosky Brookman LLP.

“These successful financings and immediate deployment into TON demonstrate our unwavering commitment to the Telegram ecosystem and position us to be a driving force in the next wave of decentralized application development.”

–Brittany Kaiser, Chief Executive Officer of AlphaTON Capital.

Chief Executive Officer of AlphaTON Capital, Kaiser, acknowledged that the private placement establishes AlphaTON Capital as a premier digital asset treasury company with substantial TON holdings. She also mentioned the company is investing in the infrastructure, hoping to empower billions of users to own their digital life, aside from just building a treasury.

Kaiser said the completion of the financing boosts AlphaTON Capital’s balance sheet and provides the capital necessary to execute its treasury strategy. AlphaTON’s treasury strategy includes TON acquisition, network validation, staking operations, and other ecosystem development initiatives.

Chairman and CIO of AlphaTON Capital, Enzo Villani, believes that closing the financings and deploying capital into TON positions the company at the forefront of the convergence of social media and blockchain technology.

He argued that establishing the first tranche of the company’s TON treasury helps AlphaTON Capital with network validation, earning yield through staking operations, and identifying the most promising opportunities within Telegram’s ecosystem. Villano also revealed that the company aims to build a platform enabling its shareholders to benefit from every layer of growth within the TON ecosystem.

AlphaTON Capital seeks to increase ecosystem growth

AlphaTON revealed it aims to create opportunities for the TON token in DeFi applications through its blockchain integration with Telegram. Telegram has over one billion monthly users, which AlphaTON Capital believes provides a familiar interface for users to integrate financial services, gaming, and productivity tools with blockchain technology. 

The TON treasury firm stated that its TON holdings and treasury approach aim to help the company capitalize on Telegram’s massive addressable market. Telegram CEO Pavel Durov said TON is the economic backbone of Telegram, adding that everything runs on TON, from payouts to creators and app developers to ad payments, mini apps, and collectibles like usernames, numbers, and gifts.

According to AlphaTON Capital’s report, the treasury strategy implemented in the company focuses on building and managing a strategic TON reserve through direct acquisition and yield-generating activities. It also helps the company participate in network infrastructure through validation and staking operations.

AlphaTON Capital pointed out that growth in its treasury strategy allows it to build partnerships with leading developers and develop high-potential projects within the Telegram mini app ecosystem. The digital asset treasury company promised to provide additional updates on its operational progress and strategic initiatives in the coming weeks. 

AlphaTON Capital also announced its pioneering treatments that target known checkpoint resistance pathways, aiming to achieve durable treatment responses and improve quality of life for patients. The company revealed that it is actively involved in the drug development process and provides counsel to guide the development of novel immunotherapy assets and asset combinations.

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