Anchorage has raised US$350mln in a Series D funding round backed by some of Wall St’s super-heavyweights and taking the total valuation of the cryp
Anchorage has raised US$350mln in a Series D funding round backed by some of Wall St’s super-heavyweights and taking the total valuation of the cryptocurrency custody firm to more than US$3bn.
The funding was led by global investment firm KKR and included investment from Goldman Sachs (NYSE:GS), Alameda Research and Andreessen Horowitz along with others.
Based in San Francisco, the company manages digital assets for institutions that are looking to diversify their portfolio.
Anchorage co-founder Diogo Mónica said in a statement, “As more and more institutions look to add crypto services into their offerings, we find ourselves at an inflection point.”
“This funding positions Anchorage Digital to meet the unprecedented institutional demand for this rapidly evolving market.”
In the previous round of funding earlier this year, it had raised US$80mln, receiving four times that investment in the latest round underlines the growing maturity of the crypto space.
The investment by KKR will be its first direct equity investment in a digital asset company through its Next Generation Technology Growth Fund II.
Ben Pederson of KKR’s technology growth equity team said, “As a pioneer in enabling institutional investors to access digital assets, Anchorage has built a best in class, institutional-grade digital asset platform that combines the best practices of both modern security and usability.”
Anchorage is not the first crypto custody firm to have a multi-billion dollar valuation, with custody-tech providers like Fireblocks and UK-based Copper both being valued in excess of US$1bn.
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