ORANGE JUICE has raised $40 million to launch a permanent capital company that plans to acquire American businesses and build a Bitcoin treasury from their cash flow.
Summary
- ORANGE JUICE raised $40 million to acquire profitable businesses while building a long-term Bitcoin treasury.
- The company plans permanent ownership, avoiding traditional private equity fund cycles and forced portfolio exits.
- Cash flow from acquired companies may fund new deals or future Bitcoin purchases over time.
According to the company’s July 15 announcement, the Connecticut-based firm will initially target companies generating between $1 million and $10 million in annual cash flow across different industries.
Permanent capital model targets long-term ownership
ORANGE JUICE plans to permanently own the companies it acquires rather than operate under a traditional private equity structure that often requires portfolio businesses to be sold after several years. The firm said acquired companies will keep their existing identities and continue operating as separate businesses.
Founders will have the option to retire, remain involved or gradually hand over management. Sellers will also receive part of their compensation in ORANGE JUICE equity, allowing them to retain exposure to the wider company after completing a transaction.
Founding partner Nico Lechuga said “building a business takes decades,” arguing that owners should have more than one option when deciding how to transfer control. The company has not yet named its first acquisition target or disclosed how much of its $40 million raise will go directly toward Bitcoin.
Bitcoin treasury will draw from business cash flow
ORANGE JUICE said cash generated by its portfolio companies can fund further acquisitions or additions to its Bitcoin treasury. The firm plans to use leverage and capital markets conservatively as it expands.
The model links Bitcoin accumulation to operating businesses rather than depending entirely on repeated stock or debt issuance. A similar cash-flow approach has appeared elsewhere. As previously reported by crypto.news, Cardone Capital has directed rental income from selected real estate assets toward long-term Bitcoin purchases.
Ricardo Salinas, founder and chairman of Grupo Salinas, joined the raise as an anchor investor. Salinas said “cash flow is king” and backed the company’s combination of operating businesses and a Bitcoin reserve.
Jeff Booth and Lyn Alden join founding group
The company was founded by several figures linked to Bitcoin-focused venture firm ego death capital. The founding group includes Jeff Booth, Lyn Alden, Nico Lechuga and Andi Pitt, alongside Adrian Steckel. Ruben Zweiban will serve as operating partner.
ORANGE JUICE is also building an internal operating team to help acquired companies improve their businesses and adopt artificial intelligence tools. The company said operational development will remain part of its strategy alongside acquisitions and Bitcoin accumulation.
The firm also intends to pursue a public listing in the future. Management said access to public markets could provide additional capital and create liquid equity that may support future acquisitions. No timetable or planned exchange has been announced.
Bitcoin treasury models face a changing market
ORANGE JUICE enters the market as corporate Bitcoin treasury strategies face closer scrutiny following the 2026 crypto downturn. Some companies have relied heavily on securities issuance to finance Bitcoin purchases, creating ongoing obligations alongside their digital asset holdings.
As reported by crypto.news, Strategy recently sold Bitcoin after building a large system of preferred securities carrying dividend obligations. The episode showed how treasury structures that rely on external financing can face different pressures when capital markets weaken.
ORANGE JUICE is proposing a different structure built around cash-generating operating companies that it plans to own permanently. Its ability to expand the Bitcoin treasury will depend on acquisition performance, business cash flow and future capital decisions.
The company has not disclosed a Bitcoin purchase target or a timetable for its first treasury acquisition. For now, the $40 million raise provides the initial capital for its plan to combine permanent business ownership with a long-term Bitcoin strategy.
