Quick Take
- ORANGE JUICE has raised $40 million to launch a permanent capital company that will acquire and permanently own American businesses while pursuing a bitcoin treasury strategy.
ORANGE JUICE has raised $40 million to launch a permanent capital company that will acquire and permanently own American businesses while pursuing a bitcoin treasury strategy.
The Connecticut-based company said in a statement on Wednesday that it will target cash-flow-generating businesses with between $1 million and $10 million in annual cash flow across various sectors.
According to the statement, ORANGE JUICE was founded by partners from bitcoin venture capital firm ego death capital, including Jeff Booth, Lyn Alden, Nico Lechuga and Andi Pitt, alongside Adrian Steckel, with Ruben Zweiban serving as operating partner.
The company said acquired businesses will retain their identities, while founders can retire, continue operating, or transition leadership over time. Sellers will receive part of their consideration in ORANGE JUICE equity.
“Building a business takes decades. Founders deserve more than one path when it's time to transition ownership,” founding partner Nico Lechuga said.
ORANGE JUICE said it is structured as a permanent capital company rather than a traditional private equity fund and is not constrained by fund cycles or pressure to resell portfolio companies.
Ricardo Salinas, founder and chairman of Grupo Salinas, also participated as an anchor investor. Salinas said he was backing ORANGE JUICE based on its focus on cash-flow-generating businesses and a bitcoin treasury.
“I have built a diversified conglomerate serving millions of customers in Latin America and employing over 170,000 people. From this I have learned two things: cash flow is king, and you cannot count on governments to protect the value of your money,” Salinas said.
ORANGE JUICE said cash generated by acquired businesses will be reinvested into additional acquisitions or the bitcoin treasury, with conservative use of leverage and capital markets.
Meanwhile, the company is assembling an in-house operating team to support operational improvements and artificial intelligence adoption across its portfolio companies, per the statement.
It also intends to pursue a public listing in the future to provide a liquid ownership currency and access to capital markets.