Sora Ventures is set to go public this Friday via a strategic merger with NASDAQ-listed Top Win International Limited (NASDAQ: TOPW), a Hong Kong-based luxury watch distributor pivoting into the digital asset space. Rather than pursuing a traditional IPO, Sora will integrate directly into Top Win’s existing public company structure, rebranding the combined entity as "AsiaStrategy."
Under the new structure, Sora founder Jason Fang will serve as Co-CEO alongside Top Win’s Tony Ngai, guiding the firm's transition from traditional luxury goods to digital assets and Web3 finance. This strategic reorientation comes as Asia experiences an accelerated push toward blockchain innovation, tokenized finance, and crypto-integrated treasury models.
Top Win’s pivot includes adopting a Bitcoin-centric treasury framework, and leveraging Sora’s institutional experience to lead digital asset investments across emerging Asian markets. The combined entity will manage a capital strategy focused on allocating funds to public companies in Asia that are integrating Bitcoin into their corporate treasuries.
Founded in 2018, Sora Ventures has a strong track record in early-stage blockchain investments, including in DeFi, NFTs, GameFi, decentralized science, and Bitcoin infrastructure. Notably, the firm helped Metaplanet become Japan’s first public company modeled after MicroStrategy. Earlier in 2025, Sora extended this approach to Hong Kong, acquiring a controlling stake in HK Asia Holdings (HKG: 1723) through a collaboration with UTXO Management.
With its new identity as AsiaStrategy, the firm has committed $150 million toward supporting Bitcoin treasury adoption among Asian public companies, with the goal of onboarding at least ten firms by year’s end. Top Win will retain its luxury watch operations while simultaneously expanding into Web3 ventures—bridging physical goods and blockchain-based assets under one diversified corporate umbrella.
The pending rebrand to AsiaStrategy is expected to mark a new chapter in institutional crypto adoption across Asia, blending legacy finance with forward-leaning blockchain initiatives. This move reflects broader regional momentum toward integrating Bitcoin as a long-term treasury asset, particularly in jurisdictions where regulatory environments are becoming increasingly favorable to digital asset innovation.
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