TLDR
- Capital B raised €15.2 million, or $17.8 million, through a private placement with institutional investors.
- The company plans to use about €14.4 million in net proceeds to purchase 182 BTC.
- Adam Back increased his stake and will control 13.43% of Capital B after the transaction.
- Blockstream Capital Partners will hold 14.42% of the company following the funding round.
- TOBAM will increase its ownership stake to 4.20% after the placement closes.
Capital B has secured €15.2 million, or $17.8 million, through a private placement with institutional investors. The France-based Bitcoin treasury company confirmed the raise on May 11 and outlined immediate purchase plans. The company will allocate most proceeds to acquire 182 BTC and expand its holdings.
Capital B Expands Bitcoin Holdings After $18 Million Raise
Capital B issued 23 million new shares at €0.66 per share to investors across the U.S. and Europe. The company appointed Maxim Group as lead placement agent while Marex acted as co-manager. Each share carries four warrants with exercise prices set at different levels.
🟠 Capital B announces a €15.2 million capital raise with global institutional investors, including strategic investors Adam Back and TOBAM, to accelerate its Bitcoin Treasury Company strategy ⚡️
Full Press Release (EN): https://t.co/ybOWbME9oK
Full Press Release (FR):…
— Capital B (@_ALCPB) May 11, 2026
The company expects net proceeds of about €14.4 million from the placement. It plans to use those funds to purchase 182 BTC without delay. Capital B currently holds 2,943 BTC, according to bitcointreasuries.net data.
After the acquisition, Capital B will increase total holdings to about 3,125 BTC. The company confirmed it can execute purchases immediately using operational funds. It structured the placement to strengthen its Bitcoin treasury model.
Capital B also attached warrants that could raise further capital in the future. If investors exercise all warrants, the company could secure €99.1 million. The exercise prices range from €0.86 to €1.46 per share across three tranches.
The full exercise would lead to the issuance of more than 92 million new shares. The company detailed these terms in its funding announcement. It scheduled the private placement to close as early as May 13.
Adam Back Increases Stake in Capital B
Adam Back participated in the placement and expanded his ownership in Capital B. Earlier in May, he subscribed to 10 million warrants valued at €1.1 million. Following the latest transaction, he will control 13.43% of the company on an ordinary basis.
Back’s involvement builds on prior investments in the firm. He also advises Blockstream Capital Partners, which will hold 14.42% after the placement. The company confirmed these ownership levels in its statement.
French asset manager TOBAM also joined the round and increased its exposure. After closing, TOBAM will hold 4.20% of Capital B. The company confirmed that institutional investors backed the offering.
Capital B previously operated as The Blockchain Group before rebranding in July 2025. It shifted toward a Bitcoin treasury strategy focused on increasing holdings per fully diluted share. The company stated that this model guides its capital allocation decisions.
Other European firms have also raised funds tied to Bitcoin reserves. UK-listed Connecting Excellence Group secured backing from Adam Back earlier this year. Meanwhile, Nakamoto launched derivatives strategies linked to its Bitcoin holdings.
