Anchorage Digital Raises $350 Million in Series D Funding Round, Led by KKR
Anchorage Digital has successfully closed a $350 million Series D funding round, led by KKR, valuing the company at over $3 billion. The investment aims to expand Anchorage's infrastructure and services as institutional demand for crypto rises. Notable participants in the funding include Goldman Sachs and PayPal Ventures. Anchorage Digital, the first crypto-native company awarded a banking charter, plans to use the funds to enhance its product offerings and grow its team. This round marks KKR's inaugural investment in a digital asset company.
- Secured $350 million in funding, boosting company valuation to over $3 billion.
- Plans for infrastructure enhancement and expansion of services for institutional clients.
- Notable investors include prestigious firms like Goldman Sachs and PayPal Ventures.
- Anchorage is the first crypto-native entity to receive a federal banking charter.
- None.
SAN FRANCISCO, Dec. 15, 2021 /PRNewswire/ -- Anchorage Digital ("Anchorage" or the "Company"), the premier digital asset platform for institutions, today announced it has closed a
"As more and more institutions look to add crypto services into their offerings, we find ourselves at an inflection point," said Diogo Mónica, President and Co-Founder of Anchorage Digital, "This funding positions Anchorage Digital to meet the unprecedented institutional demand for this rapidly evolving market. We're grateful that KKR and this wider group of investors shares our vision to expand regulated institutional access to digital assets."
The first crypto-native company to receive a banking charter from the Office of the Comptroller (OCC) in January 2021, Anchorage is making it safe and accessible for institutions to participate in the rapidly evolving digital asset space. Anchorage began as a custodian and has built a robust suite of additional services such as secure trading, financing, staking, and governance.
Anchorage Digital plans to use this latest funding to enhance its infrastructure solutions, specifically for global financial firms and fintech innovators. It will also invest to accelerate and simplify clients' engagement with the latest in crypto innovation and increase the size of its team to continue to expand product offerings and grow its client base.
KKR is investing in Anchorage through its Next Generation Technology Growth Fund II, a fund dedicated to growth equity investment opportunities in the technology space. This will be the firm's first direct equity investment in a digital asset company.
"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," said Ben Pederson, Senior Leader on KKR's Technology Growth Equity team. "We are thrilled to lead this Series D round and work with Diogo, Nathan and their talented team as they continue to support the institutional adoption of digital assets through their differentiated, regulated and integrated suite of solutions."
"We are certain Anchorage will be a crucial part of the digital asset infrastructure and we are excited to be an investor," said Oli Harris, Head of North America Digital Assets at Goldman Sachs.
Anchorage's Series D funding follows a dynamic year of growth. Significant milestones include:
- Receiving a federal banking charter from the OCC
- Announcing an
$80 million Series C round that was led by GIC and included Andreessen Horowitz, Blockchain Capital, Lux Capital, and Indico - Facilitating Visa's purchase of one of the most popular series of NFTs, Cryptopunk #7610
- Growing headcount by
175% to date in 2021 - Business growth in excess of
800% for each of the past two years.
About Anchorage Digital
Anchorage Digital is the most advanced digital asset platform for investors. From custody and trading to staking, governance, and financing, Anchorage offers a full range of crypto-native financial solutions that are compliant, built to adapt to emerging blockchain use cases, and made to evolve alongside the needs of digital asset investors. Today, Anchorage serves many of the largest institutional investors and enterprise brands in the digital asset space.
Anchorage Digital Bank makes it simple and secure for institutions to gain exposure to digital assets as the first federally chartered digital asset bank. With secure custody at its core, Anchorage is the premier partner for institutions and corporations. Anchorage offers financial solutions for today and tomorrow. To learn more, please visit anchorage.com and on Twitter @Anchorage.
About KKR
KKR is a leading global investment firm that offers alternative asset management and capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR's insurance subsidiaries offer retirement, life and reinsurance products under the management of The Global Atlantic Financial Group. References to KKR's investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR's website at www.kkr.com and on Twitter @KKR_Co.
Media Contacts:
Anchorage:
Lexi Wangler
anchorage@dittopr.co
KKR:
Julia Kosygina or Miles Radcliffe-Trenner
(212) 750-8300
media@kkr.com
Disclaimer
This press release is intended for informational purposes only. It is not to be construed as and does not constitute an offer to sell or a solicitation of an offer to purchase any securities in Anchor Labs, Inc., or any of its subsidiaries, and should not be relied upon to make any investment decisions. Furthermore, nothing within this announcement is intended to provide tax, legal, or investment advice and its contents should not be construed as a recommendation to buy, sell, or hold any security or digital asset or to engage in any transaction therein.
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SOURCE Anchorage Digital
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