Portuguese American Anchorage Digital Becomes New Crypto Unicorn

Institutional crypto asset exchange Anchorage Digital has closed a $350 million Series D funding round that values the venue at over $3 billion.

Fundraiser Values Anchorage at $3 Billion

The significant milestone for the company will be followed by its plans to enhance its infrastructure solutions and accelerate clients’ engagement with the latest in crypto innovation.

Anchorage will also use the funds to increase the size of its team and leverage the new staff in order to expand product offerings and grow its client base.

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.”

The fundraiser was led by KKR. Ben Pederson, Senior Leader on KKR’s Technology Growth Equity team, commented: “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.”

Other investors in the Series D funding 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.

“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 has been granted a banking charter from the Office of the Comptroller (OCC) in January 2021 and provides custody services as well as secure trading, financing, staking, and governance for institutional participants.

Prior to this round, Anchorage’s Series C funding raised $80 million from top players in the crypto space, including Andreessen Horowitz, Blockchain Capital, Lux Capital, and Indico. That round was led by GIC.

The firm’s headcount has nearly tripled in 2021 and the new round will only fuel more hiring across the globe, particularly in the US and Portugal, where it holds a significant operation.