Anchorage Digital, a digital asset platform for institutions, has secured $350m in Series D funding round, led by global investment firm KKR, which values the company at more than $3bn.
The financing round also saw participation from Goldman Sachs, funds and accounts managed by BlackRock, PayPal Ventures, and Wellington Management, among others.
Anchorage intends to use the funding to improve its infrastructure solutions, particularly for financial firms and fintech innovators.
The digital asset platform will also use the funds to simplify its client engagement, increase its workforce to expand its product offerings, and extend its client base.
KKR has led the investment through its Next Generation Technology Growth Fund II, which focuses on growth equity investment in technology areas.
The Series D funding round marks the investment company’s first direct equity investment in a digital asset company.
KKR technology growth equity team senior leader Ben Pederson 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.
“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.”
Anchorage Digital is an advanced digital asset platform, which offers a full range of crypto-native financial solutions, from custody and trading to staking, governance, and financing.
It serves large-scale institutional investors and enterprise brands in the digital asset space, and its offerings are designed to suit emerging blockchain use cases.
The company claimed that it is the first crypto-native company to receive a banking charter from the Office of the Comptroller (OCC), in January 2021.
Earlier this year, Anchorage has closed a Series C funding round at $80m, led by GIC and included Andreessen Horowitz, Blockchain Capital, Lux Capital, and Indico.
Anchorage Digital president and co-founder Diogo Mónica said: “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.
“We’re grateful that KKR and this wider group of investors shares our vision to expand regulated institutional access to digital assets.”
