Dec 15, 2021 - Economy & Business

Anchorage Digital raises $350 million in funding round led by KKR

Illustration of connected "bitcoins" with a college of rectangles and money in the background

Illustration: Sarah Grillo/Axios

Anchorage Digital, a San Francisco-based company providing digital assets custody and management for institutions, raised $350 million in Series D funding at a $3 billion valuation led by KKR.

Why it matters: As institutions continue to get more and more invested into crypto, companies like Anchorage are becoming critical.

Details: Other investors in the round include Goldman Sachs, Alameda Research, Andreessen Horowitz, Apollo credit funds, funds and accounts managed by BlackRock, Blockchain Capital, Delta Blockchain Fund, Elad Gil, GIC, GoldenTree Asset Management, Innovius Capital, Kraken, Lux Capital, PayPal Ventures, Senator Investment Group, Standard Investments, Thoma Bravo and Wellington Management.

The bottom line: "Anchorage hasn't even spent the funds raised from its Series C round, the firm's co-founder Diogo Mónica told The Block. But it raised the new round to bring larger financial institutions on board for strategic growth," The Block writes.

Go deeper