Private equity firm KKR plans to lead a Series D investment round for crypto platform Anchorage, according to a person quotes by The Information. The funding would reportedly push Anchorage up to a roughly $3 billion valuation.
- San Francisco-based Anchorage is a crypto custody platform that lets institutional investors safely hold and use crypto. Anchorage was the first crypto firm to receive a U.S. federal banking charter from the Office of the Comptroller of the Currency, making Anchorage the first nationwide digital asset bank.
- In October, sources told CoinDesk that Anchorage was planning to raise a large new funding round at a $2 billion to $3 billion valuation.
- Anchorage raised an $80 million Series C in February of this year, but did not disclose the valuation at that time.
- KKR had $459 billion in assets under management as of its third-quarter results reported earlier this month. In September, the firm made its first blockchain-related investment by backing the flagship fund of ParaFi Capital, which focuses on decentralized finance markets. KKR also reportedly established a working group dedicated to determining the best use cases for blockchain technology.
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.