Investment firm Republic announced Tuesday a $150 million Series B funding round that was led by Valor Equity Partners. Republic will use the funds to expand globally, develop new investment products and otherwise build up its business.
- Republic consists of several arms, including a retail investment platform, a private capital division and a blockchain consultancy business.
- “Valor has a history of investing in innovative industry disruptors and believes Republic is a natural fit for our portfolio,” said Valor Equity partner Vivek Pattipati. “We are aligned with Republic’s vision to transform the private investing marketplace and usher in a new era of venture capital.” As part of the investment, Pattipati will join Republic’s board of directors.
- Returning investors from the Series A round in March were CoinFund, Galaxy Interactive, HOF Capital, Motley Fool Ventures and Tribe Capital. New backers included Pillar VC, hedge funds Brevan Howard and Atreides and executives at GoldenTree Asset Management,
- Republic raised $36 million in the Series A round and said its total fundraising at that time was over $70 million.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.