KKR leads $350M raise for crypto custody bank Anchorage Digital
Main cryptocurrency custody financial institution Anchorage Digital has closed a contemporary funding spherical, bringing its valuation to over $3 billion.
Anchorage Digital introduced on Wednesday that it had raised $350 million in a Collection D funding spherical led by fairness funding big KKR.
Based on the announcement, that is the primary time for KKR to immediately put money into fairness in an organization within the crypto trade. The corporate invested by its Subsequent Era Know-how Progress Fund II, which is devoted to creating fairness funding within the know-how house.
“As a pioneer in enabling institutional traders to entry digital belongings, Anchorage has constructed a finest in school, institutional-grade digital asset platform that mixes the most effective practices of each trendy safety and usefulness,” KKR senior chief of know-how progress fairness workforce Ben Pederson stated.
The brand new increase additionally included a large variety of traders each in conventional finance and the cryptocurrency trade, together with corporations akin to Goldman Sachs funding financial institution and Sam Bankman-Fried’s crypto agency, Alameda Analysis. Different traders embrace enterprise capital agency Andreessen Horowitz, BlackRock, Blockchain Capital, Delta Blockchain Fund, PayPal and Kraken.
The brand new funding will assist Anchorage Digital additional develop its infrastructure and product choices in addition to proceed rising its headcount, which has already elevated by 175% in 2021.
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“This funding positions Anchorage Digital to fulfill the unprecedented institutional demand for this quickly evolving market,” Anchorage Digital co-founder and president Diogo Mónica stated.
Anchorage grew to become the first crypto firm to receive a charter from america nationwide financial institution regulator, the Workplace of the Comptroller of the Forex, in January 2021. The agency subsequently raised $80 million in a Series C round led by Singapore’s sovereign wealth fund GIC.
