Brera Holdings (BREA), a Nasdaq-listed sports club owner, is the latest entrant into the growing Solana (SOL) digital asset treasury field raising $300 million to accumulate the token.

Announced on Thursday, the firm secured backing from UAE-based Pulsar Group, Cathie Wood’s ARK Invest, RockawayX and the Solana Foundation in a private investment in public equity (PIPE) round. It will also rebrand to Solmate, while maintaining its sports-ownership business.

The shares rallied 14% following the news. SOL rose 5% over the past 24 hours.

Solmate’s debut follows recent high-profile Solana treasury plays such as Galaxy-backed Forward Industries (FORD) and Pantera-backed Helius Medical Technologies (HSDT) as the digital asset treasury trend is expands beyond bitcoin (BTC) and ether (ETH).

The Brera venture aims to hold and stake SOL tokens, build out validator infrastructure in Abu Dhabi and pursue revenue from Solana-native projects. Its first planned deployment is a set of bare metal servers configured to outperform traditional validator setups, giving regional investors direct access to Solana’s staking yields, the firm said.

Marco Santori, a longtime digital asset lawyer and former Kraken executive, will lead Solmate as CEO, while economist Arthur Laffer, RockawayX CEO Viktor Fischer and two appointees from the Solana Foundation join the board.

Read more: Ether Bigger Beneficiary of Digital Asset Treasuries Than Bitcoin or Solana: StanChart