Researcher
[Overview]
SUIG is the world’s first and largest SUI DAT company and is quickly positioning itself as the institutional gateway to the SUI ecosystem.
Originally known as Mill City Ventures III (MCVT), the firm rebranded in August 2025 as SUI Group Holdings (SUIG) to execute its SUI Treasury Strategy.
Once focused on short-term lending, the company pivoted to deploy its assets entirely into SUI, becoming the only publicly listed SUI DAT with an official partnership with the Sui Foundation:
Through partnership with Sui Foundation, it allows SUIG to:
acquire SUI at discounted prices
actively participate in SUI ecosystem growth
SUIG stakes most of its SUI holdings, generating about 20K USD in daily interest income.
[Leadership]
Source: SUIG
Leadership has evolved alongside this pivot. Backed by Karatage, a London-based hedge fund specializing in digital assets, AI, and gaming, its co-founders Marius Barnett (Chair) and Stephen Mackintosh (CIO) joined SUIG to help guide its transformation.
[Financing]
In July 2025, SUIG raised 450M USD through a PIPE led by Karatage and the Sui Foundation, with Galaxy Digital, Pantera Capital, Electric Capital, ParaFi, Arrington, FalconX and others also participating. Galaxy Asset Management now oversees SUIG’s treasury.
The company followed this momentum in August 2025 by securing a 500M USD ELOC with A.G.P./Alliance Global Partners, providing flexible funding to continue scaling SUI accumulation.
Source: SUIG
By September 2, 2025, SUIG’s treasury exceeded 100M SUI, reaching 101.8M holdings in just one month since the pivot. Net asset value stood at approximately 332M USD, while the mNAV premium climbed from 1.15x in August to 1.42x in September, signaling growing investor confidence.
SUIG also completed a 2M USD share buyback program and approved a new 50M USD buyback, reinforcing both shareholder value and its long-term conviction in the SUI ecosystem.
[Final Thoughts]
In only a few months SUIG has transformed from a niche lender into a digital asset powerhouse aligned with the Sui Foundation, rapidly building one of the largest SUI treasuries and cementing its role as the leading institutional player in SUI.
For SUIG to sustain its growth while maintaining mNAV above 1.00x, it will need to work more closely with the SUI ecosystem and pursue strategies that create added value based on its SUI holdings.
