Digital Assets: Institutional Digital Asset Platform Anchorage Lands $350M In KKR-Led Round

December 15, 2021 | Digital Assets, News, Venture Capital

Anchorage is the first digital asset company to receive a banking charter from the Office of the Comptroller (OCC) in January 2021.

Anchorage Digital, the institution-focused digital asset company that offers custody, secure trading, financing, staking, and governance, announced today its $350 million Series D funding round led by global investment firm KKR that valued the company at over $3 billion.

Other participants in the round included 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. (CISION PR Newswire)

Anchorage previously raised $80 million in February 2021 shortly after it received a banking charter. It now also offers prime brokerage services and custom API integrations for institutions interested in digital assets.

“We are at an inflection point as more and more institutions look to add crypto services into their offerings,” Anchorage said in a statement. “This funding positions Anchorage to meet the unprecedented institutional demand for this rapidly changing market.” The company garnered business growth in excess of 800% for each of the past two years, and in 2021, grew its headcount by 175%.

KKR (NYSE: KKR) is breaking new ground with this investment – its first direct investment in equity in the company in the crypto industry – routed through its Next Generation Technology Growth Fund II, a fund dedicated to growth equity investment opportunities in the technology space.

“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.

Related Story: Anchorage, The First Federally Chartered Digital Bank, Raises $80M

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