PANews reported on October 29 that, according to PR Newswire, Nasdaq-listed Metalpha Technology Holding Ltd. (ticker symbol: MATH) announced that it has signed a subscription agreement with two strategic institutional investors, Gortune International Investment Limited Partnership and Avenir Group, to raise approximately $12 million through a private placement. The transaction is expected to be completed around November 30, 2025.

Metalpha stated that the funds will be used to accelerate business expansion in blockchain trading technology and digital asset infrastructure, as well as for innovative investments and working capital purposes.