Anchorage Digital raises $350 million in a Series D funding round led by global investment firm KKR.
What Anchorage Digital Does?
Anchorage Digital is the leading 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.
The first crypto-native company to receive a banking charter from the Office of the Comptroller (OCC) in January 2021, Anchorage makes it safe and accessible for institutions to participate in the rapidly evolving digital asset space.
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.
Anchorage Digital Series D Funding
Anchorage Digital Series D Funding was led by KKR. The funding round also attracted participation from 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.
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.
Commenting on the investment, Ben Pederson, Senior Leader on 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. 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.
The latest funding round values Anchorage Digital at over $3 billion.
Diogo Mónica, President and Co-Founder of Anchorage Digital, 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.”
Anchorage Digital plans to use new 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.