Digital Investment Strategy (DIS), a private investment firm, has completed the acquisition of Slam Sponsor, LLC, the sponsor of Slam Corp, effectively taking control of the blank‑check company. The transaction ushers in a rebrand: Slam Corp will become Field Digital Corp, an institutional‑focused digital asset infrastructure platform. The deal itself does not disclose a traditional primary fundraising round, but it positions Field to raise capital and use the existing listed SPAC shell to acquire and integrate businesses that power core services in the digital asset economy.
Company and transaction overview
Slam Corp began life as a special purpose acquisition company (SPAC) that raised approximately 500 million dollars in its February 2021 IPO. That raise targeted investments in sectors such as sports, media, entertainment, health and wellness, and consumer technology. However, the company failed to complete a qualifying business combination within its original merger timeline and was subsequently delisted from Nasdaq. Its securities migrated to the OTC Markets’ Expert Market, where they now trade under the tickers SLMUF, SLAMF, and SLMWF.
On March 2, 2026, DIS closed the purchase of 100% of the equity interests in Slam Sponsor, LLC, which holds the founder shares and private placement warrants that control the SPAC. Following the close, all prior directors and officers are being replaced with appointees from DIS, and Slam Corp will change its name to Field Digital Corp. At this stage, Field remains a shell company; it must still complete an initial business combination before it transitions into an operating company. Within ongoing web3 fundraising updates, this type of sponsor acquisition highlights how capital markets vehicles are being repurposed for digital-asset expansion.
What Field Digital plans to build
Field’s public messaging describes the company as an integrated operating platform that aims to own and operate “core infrastructure” for institutional participation in digital‑asset markets. Rather than building a single protocol or product, Field’s strategy is to acquire multiple “mission‑critical” businesses and consolidate them under a unified corporate and operational framework.
The company frames this approach as a response to what it sees as a fragmented technical and service layer in crypto. Networks now carry material economic activity, but functions such as market access, execution, and operations are often provided by disparate providers. Field’s stated goal is to target businesses that sit at the center of on‑chain and exchange activity, integrate them into a common platform, and reinvest cash flows to scale the combined entity over a multi‑decade horizon.
Leadership and governance
Field’s new leadership and board are anchored in DIS’s founding team, with additional members drawn from traditional capital markets, digital‑asset law, and decentralized finance. This structure attempts to combine classic finance governance with crypto‑native experience.
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Maulin Shah assumes the role of executive chairman. A DIS co‑founder, he previously served as a portfolio manager at major hedge funds such as Citadel, Millennium Management, and Perry Capital, bringing over 20 years of investment‑management experience.
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Joseph Buttram becomes chief executive officer. He is a DIS co‑founder and the founder of Zeal Capital, with more than a decade of professional investment experience in cryptocurrencies and DeFi protocols. He also helped co‑found the Proof of Stake Alliance in 2018.
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Raoul Scott is appointed president and chief financial officer. Also a DIS co‑founder, he has more than 15 years of experience in institutional capital markets and prime‑brokerage roles at firms such as Cowen and StoneX Financial.
The reconstituted board will include:
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Karen Snow, former global head of listings at Nasdaq and now CEO of Rose & Co. Capital Advisors, with over 30 years of experience in capital markets and advisory.
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Michael Frisch, head of the cryptocurrency and digital‑asset practice at Croke Fairchild Duarte & Beres and general counsel of Streamex Corp, who previously served as a senior trial attorney at the U.S. Commodity Futures Trading Commission.
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Kain Warwick, founder of the DeFi protocol Synthetix and of the crypto‑native trading platform Infinex, representing a prominent DeFi ecosystem voice.
This mix signals an intent to balance traditional finance experience with domain‑specific digital‑asset expertise at both the executive and board levels.
Use of proceeds and capital plans
Field has not disclosed a new equity or token‑based funding round alongside the sponsor acquisition. The company emphasizes that it is now “fundraising,” but without specifying target size, structure, or investor categories. The focus is on raising capital to execute its roll‑up strategy in digital‑asset infrastructure rather than announcing a closed round.
Historically, Slam Corp raised about 500 million dollars in gross proceeds at its IPO, though trust balances may have shifted due to redemptions and multiple extension votes. In late 2024, the company also issued an unsecured promissory note of roughly 0.8 million dollars to its sponsor to help fund operations while it continued to seek a business combination. Repayment of that note is contingent on completing a deal.
Funding history and structure
From a fundraising‑history standpoint, Field inherits Slam Corp’s SPAC capital structure rather than a conventional venture capital trajectory. Slam’s IPO in early 2021 was underwritten by Goldman Sachs and BTIG and raised 500 million dollars via units that combined common shares and partial warrants.
Subsequent filings show that the SPAC has repeatedly sought to extend its merger deadline, most recently asking shareholders in late 2025 to push the termination date to December 2026, with options for further one‑month extensions into 2027. After failing to complete a deal within the 36‑month window, the company was delisted from Nasdaq and moved to OTC markets.
The structure stands in contrast to the more typical private funding path seen across the digital asset and AI sectors, where headlines such as Zetrix AI raises $40M signal fresh venture backing and new equity issuance rather than the recycling of an existing SPAC vehicle.
Market backdrop for digital asset infrastructure
Field’s pivot arrives as crypto capital tilts toward institutional‑facing infrastructure providers. Industry analyses of 2025 deal flow estimate that institutional‑ and infrastructure‑focused crypto companies attracted nearly 25 billion dollars of capital, a substantial increase versus prior years and more than double the pace seen in earlier periods. Within that pool, infrastructure startups covering custody, prime‑brokerage‑style services, settlement, and data infrastructure captured roughly 40% more funding than DeFi protocols in early 2025, reversing a trend from 2023–2024.
