Orange Juice raises $40M to buy firms, build bitcoin treasury

Orange Juice raised $40 million to launch a Connecticut-based permanent capital company that will acquire and hold U.S. cash-flow businesses and build a bitcoin treasury, the firm announced on Wednesday.

The company will target businesses generating $1 million to $10 million in annual cash flow across consumer, industrial and business services sectors. It plans to hold acquisitions indefinitely rather than resell them on a typical private equity timetable.

Sellers will receive part of their sale consideration in Orange Juice equity. Founders may choose to retire, continue running their companies, or transition leadership gradually, the firm added.

Cash generated by acquired businesses will be redeployed into additional purchases or into the bitcoin treasury. Orange Juice plans to use leverage and capital markets conservatively and is assembling an in-house operating team to handle financial reporting, technology upgrades and faster adoption of artificial intelligence across portfolio companies.

Founders include partners from bitcoin venture firm ego death capital — Jeff Booth, Lyn Alden, Nico Lechuga and Andi Pitt — alongside Adrian Steckel. Ruben Zweiban will serve as operating partner.

Founding partner Nico Lechuga wrote, ‘Building a business takes decades. Founders deserve more than one path when it's time to transition ownership.' Ricardo Salinas, founder and chairman of Grupo Salinas, participated as an anchor investor and commented, ‘From this I have learned two things: cash flow is king, and you cannot count on governments to protect the value of your money.'

The company did not identify acquisition targets or a timetable for deals or a potential public listing. Orange Juice stated it will use capital from the initial funding round to begin purchases and to expand its operating team.