ORANGE JUICE raises $40M seed to buy and permanently hold US businesses
What's the deal? ORANGE JUICE has raised $40 million in a seed round to launch a company that acquires, improves, and permanently owns American businesses. The Connecticut-based venture pairs long-term ownership and operational improvement with a Bitcoin treasury. Ricardo SalinasDealroom has a profile for this one. Try Dealroom →, founder and chairman of Grupo SalinasDealroom has a profile for this one. Try Dealroom →, is the anchor investor.
Who's behind it? ORANGE JUICE was founded by partners from ego death capitalDealroom has a profile for this one. Try Dealroom →, a Bitcoin venture capital firm, including Jeff Booth, Lyn Alden, Nico Lechuga, and Andi Pitt, alongside Adrian Steckel and operating partner Ruben Zweiban.
What's the endgame? The company will initially buy stable businesses generating $1 million to $10 million in annual cash flow across a range of sectors. Founders can retire, keep leading, or transition gradually, and sellers receive part of their payment in ORANGE JUICE equity. Cash from the businesses will be reinvested into acquisitions or the Bitcoin treasury.
Why now? A large wave of business successions is expected over the coming decades. "Building a business takes decades. Founders deserve more than one path when it's time to transition ownership," said founding partner Nico Lechuga, who positioned permanent capital as an alternative to private equity.
How is it different? Unlike traditional private equity, ORANGE JUICE is not bound by fund cycles or pressure to resell, letting it focus on long-term health. The company also plans an eventual public listing to provide a liquid ownership currency and access to capital markets.
Why Bitcoin? Salinas tied his backing to two lessons from building a conglomerate that employs over 170,000 people. "Cash flow is king, and you cannot count on governments to protect the value of your money," he said, adding that ORANGE JUICE is "built on both."
What could go wrong? The model links operating businesses to a volatile asset. The company says it will use conservative leverage, but a Bitcoin treasury exposes returns to price swings independent of the underlying businesses' performance.
The signal: The round reflects two converging trends — permanent-capital vehicles chasing the coming succession wave, and Bitcoin moving onto corporate balance sheets as a treasury strategy. ORANGE JUICE also plans an in-house operating team to help portfolio companies navigate the shift to artificial intelligence, betting that patient ownership beats the private equity clock.
Read more: PR Newswire
Image credit: Generated with Gemini
