ORANGE JUICE Raises $40 Million for Bitcoin Treasury Venture

Published on: July 16, 2026, 2:08 PM EDT

ORANGE JUICE HODLINGS Inc. raised $40 million to launch a permanent capital company that acquires, improves and permanently owns American businesses, backed by a Bitcoin treasury..

Key Takeaways

ORANGE JUICE HODLINGS Inc. raised $40 million to launch a permanent capital company backed by a Bitcoin treasury.
The company will initially target stable businesses with $1 million to $10 million in annual cash flow across a range of sectors.
Founding partners include Jeff Booth, Lyn Alden, Nico Lechuga and Andi Pitt from Ego Death Capital, plus Adrian Steckel and operating partner Ruben Zweiban.
Ricardo Salinas, chairman of Grupo Salinas, joined as anchor investor after building a conglomerate in Latin America that employs over 170,000 people.
Cash from acquired businesses will be reinvested into acquisitions or the Bitcoin treasury, with conservative use of leverage and capital markets, per ORANGE JUICE.

What Happened?

ORANGE JUICE, acquires, improves and permanently holds cash-flow-generating businesses backed by a Bitcoin treasury. The firm was founded in 2026 and is headquartered in Connecticut, according to ORANGE JUICE, whose release carried a Westport dateline.

The firm intends to pursue a public listing in the future to provide a liquid ownership currency and access to capital markets, a structure that would eventually extend indirect exposure to the investors.

The company is assembling an in-house operating team to help portfolio companies navigate the AI transition, per ORANGE JUICE. Latham & Watkins LLP served as legal advisor on the raise.

THE BLOCK: Jeff Booth and Lyn Alden-backed ORANGE JUICE raises $40 million to launch permanent capital firm with a bitcoin treasury strategy.

The Connecticut-based company plans to acquire and hold cash-flow-generating businesses while allocating retained earnings to bitcoin. pic.twitter.com/sSBq7pFGBl
— The Block (@TheBlockCo) July 16, 2026

Permanent Capital vs. the Private Equity Playbook

Lyn Alden, an ORANGE JUICE co-founder and partner at Ego Death Capital, said private equity funds are designed to buy, optimize, leverage, and re-sell private businesses within a typical 4-7 year window. ORANGE JUICE will instead seek to hold the businesses it acquires for the long run, more like what Berkshire Hathaway and Illinois Tool Works do as permanent capital vehicles.

Alden wrote:

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The critique cuts both ways. Pure play bitcoin holding companies exist, but their cash-flowing operations tend to be small or non-existent, making them persistently reliant on external capital and adding volatility.

ORANGE JUICE’s use of external capital can therefore be opportunistic rather than persistently required, since retained earnings from its operating businesses fund the Bitcoin treasury directly. Businesses that emerge out of PE funds have higher failure rates than average, thanks to being saddled with a lot of leverage, Alden added.

Who’s Behind ORANGE JUICE?

Ricardo Salinas, the Mexican founder and chairman of Grupo Salinas said:

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I have built a diversified conglomerate serving millions of customers in Latin America and employing over 170,000 people. From this I have learned two things: cash flow is king, and you cannot count on governments to protect the value of your money.

Ruben Zweiban, the operating partner running ORANGE JUICE’s day-to-day functions, is a U.S. Naval Academy and Oxford graduate who served for a decade as a Navy SEAL officer with five deployments. He then worked as an investment banker at BofA Securities and an equity research analyst and investor at JP Morgan Asset Management, most recently serving as CIO of a billion-dollar private multi-family office. That resume is the operator-side credibility test behind the raise: buying small businesses at scale takes someone who has run something complex under pressure.

“Building a business takes decades. Founders deserve more than one path when it’s time to transition ownership,” said Nico Lechuga, ORANGE JUICE founding partner. Sellers who agree to a deal receive part of their consideration in ORANGE JUICE equity, keeping them exposed to the long-term upside.

Implications for Bitcoin Treasury Companies

The structural bet matters more than the headline figure: cash-flow-funded Bitcoin purchases change the risk profile when Bitcoin’s price falls, unlike a pure-play treasury company that keeps tapping capital markets to grow. That financially literate, Bitcoin-native profile overlaps with the cohort ORANGE JUICE is now recruiting as sellers and anchor investors alike.

The release leaves real gaps: no named acquisition target, no disclosed share of capital earmarked for Bitcoin versus new deals, and standard forward looking-statement and no offer or solicitation language rather than firm commitments. Those gaps are ordinary for a private placement, but they are also exactly what turns a credentialed thesis into a verified track record.

CoinLaw’s Takeaway

ORANGE JUICE is testing whether business succession and Bitcoin adoption can solve two problems with one balance sheet. Cash-flowing small businesses need buyers who will not sell them off quickly, and Bitcoin-native investors want exposure that does not depend on constantly issuing new stock or debt. Pairing the two, rather than the Bitcoin treasury alone, is the real experiment behind ORANGE JUICE’s $40 million launch.

The operator bet is doing a lot of the work investors cannot yet verify. Zweiban’s background and Salinas’s cash-flow thesis both signal discipline, but neither substitutes for a named deal or a disclosed Bitcoin allocation target. Until ORANGE JUICE closes and reports an acquisition, the pitch remains a credentialed thesis rather than a track record.