Sora Ventures joins NASDAQ through strategic merger with Top Win, rebrands to AsiaStrategy

Sora Ventures embeds with Top Win as 'AsiaStrategy' to navigate Asia's digital asset surge

Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.

This Friday, Sora Ventures will enter the public markets through a strategic partnership with Top Win International Limited (NASDAQ: TOPW), a Hong Kong-based luxury watch distributor transitioning into the digital assets sector.

Rather than launching an independent IPO, Sora will embed itself into TopWin’s publicly traded structure.

Founder Jason Fang will assume the role of Co-CEO alongside Tony Ngai as part of the firm’s broader rebrand to “AsiaStrategy.”

The move follows TopWin’s decision to expand into blockchain and Web3, adopt a Bitcoin-based treasury strategy, and reposition its business model to align with Asia’s accelerating interest in digital assets.

TopWin intends to leverage Sora’s domain expertise, particularly its experience in institutional Bitcoin integration, to lead investment and treasury initiatives across emerging capital markets in the region.

As part of the transition, TopWin has announced plans to incorporate Sora Ventures’ approach to capital deployment, which includes managing a fund dedicated to Bitcoin treasury allocations in public companies across Asia.

Sora Ventures’ rich crypto history

Established in 2018, Sora Ventures has built a reputation for early-stage investments in blockchain verticals such as DeFi, NFTs, and GameFi, and has more recently concentrated on decentralized science and the Bitcoin ecosystem.

It was an early partner of Metaplanet (TYO:3350), helping position the company as Japan’s first public Strategy (formerly MicroStrategy) analog. In early 2025, Sora expanded that strategy by initiating a similar model in Hong Kong.

Through a collaboration with UTXO Management, it gained controlling ownership in HK Asia Holdings Ltd (HKG: 1723), setting the stage for further institutional Bitcoin integration across the region.

Fang brings experience from multiple market cycles and a disciplined capital deployment track record.

AsiaStrategy Bitcoin treasury model

Under his leadership, Sora Ventures has committed to investing $150 million in Asian public companies adopting Bitcoin treasury models. By year-end, it plans to back at least ten firms.

TopWin will maintain its core luxury watch distribution business while leveraging Sora Ventures’ Web3 expertise to diversify its portfolio.

The move positions the company to operate across both physical and digital asset classes, aligning with Asia’s accelerating push into tokenized finance.

Pending approval, TopWin’s name change to AsiaStrategy aims to reflect its dual-track operations in legacy and blockchain-based sectors.

The initiative signals increasing institutional coordination around Bitcoin as a treasury reserve asset, particularly in high-growth regions with receptive regulatory climates.

By integrating a Bitcoin treasury and entering public markets through Sora Ventures, the company aims to establish a durable presence in Asia’s evolving capital market.

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