Latham Advises on Satsuma Technology’s US$218 Million Convertible Loan Note Round

Latham & Watkins has advised ParaFi, an alternative asset management and technology firm focused on blockchain and digital assets, in Satsuma Technology plc’s second secured convertible loan note round. Satsuma Technology is a public company pioneering the convergence of decentralised AI and Bitcoin treasury strategy.

Satsuma Technology raised gross proceeds of approximately US$218 million in the round that closed on July 28, 2025.

The round was led by ParaFi Capital, with participation from Pantera Capital, Blockchain.com, Kraken, Arrington Capital, Opportunity Fund, Kenetic Capital, and Digital Currency Group (DCG), among others.

The Latham team was led by London partners Shing Lo and Anna Ngo. Advice was also provided on finance maters by associates Alexandra Samsonova and Ben Silverstone.