Forward Industries Taps Ryan Navi as CIO to Drive Solana Treasury Strategy

Quick Breakdown 

• Forward Industries appoints Ryan Navi as CIO to lead its Solana-focused treasury and capital markets strategy.
• The company now holds over 6.9 million SOL, launched a validator node, and approved a $1B share buyback program.
• Stocks of SOL-centric treasury firms have tumbled alongside Solana’s 30% price decline over the past month.

Former ParaFi and KKR investor to lead Solana capital deployment

Forward Industries has appointed Ryan Navi as its new chief investment officer, tasking him with steering the firm’s Solana-centric treasury strategy. Announced on Monday, Navi will oversee the sourcing and structuring of capital markets opportunities and direct how the company leverages its staking and validator infrastructure to grow its SOL holdings.

Forward Industries Appoints Ryan Navi as Chief Investment Officer

“I have come to know Ryan well over the years and have always admired his deep understanding of the Solana ecosystem, as well as his disciplined and rigorous investment approach. Ryan’s vision for both Solana and… pic.twitter.com/tIsrBBYi9X

— Forward Ind. | NASDAQ-$FWDI (@FWDind) December 1, 2025

Navi previously led digital asset investments at ParaFi Capital and held a principal role at global investment firm KKR, specializing in liquid and distressed credit. He began his career in investment banking at Citi.

Forward deepens shift into Solana ecosystem

The company, which only pivoted from its original medical-tech design business in September, has quickly emerged as one of the largest institutional holders of SOL. Data from CoinGecko shows Forward now controls 6.91 million SOL, valued at roughly $863.5 million, representing a little over 1% of the token’s circulating supply.

In September, Forward Industries raised $1.65B to build a Solana-based crypto treasury, with funding from Galaxy, Jump Crypto, and Multicoin Capital. In October, the firm launched its first institutional-grade validator on the Solana network, reinforcing its long-term commitment to the ecosystem. Forward also approved a $1 billion share repurchase program in November, allowing for buybacks via open-market trades, block transactions or privately negotiated deals.

SOL treasury stocks slide as token price drops

A wave of companies pursuing Solana-focused treasury strategies surfaced earlier this year, many seeing sharp stock gains immediately after announcing their pivots. Sharps Technology, for instance, surged more than 96% in August after shifting from medical devices to SOL accumulation.

However, the momentum has cooled as Solana’s price has slipped more than 30% in the last month to around $125. Publicly traded SOL-treasury firms have mirrored the downturn. Solana Co. (HSDT) has fallen nearly 37% over the past 30 days. DeFi Development Corporation (DFDV) has dropped 40% in the same period.

 

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