Crypto Custody Firm Anchorage Raises $350M Funding at $3B Valuation

The Series D funding round was led by global investment firm KKR and included Goldman Sachs, Alameda Research and Andreessen Horowitz.

AccessTimeIconDec 15, 2021 at 9:08 a.m. UTC
Updated May 11, 2023 at 5:49 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

Anchorage Digital has closed a $350 million funding round, valuing the cryptocurrency custody firm at over $3 billion.

The Series D funding round was led by global investment firm KKR and included Goldman Sachs, Alameda Research and Andreessen Horowitz among other big names.

  • 80% of Meme Coin Performance Occurs During Asia Trading Hours: 10x Research Founder
    00:55
    80% of Meme Coin Performance Occurs During Asia Trading Hours: 10x Research Founder
  • Standard Chartered Bullish on Bitcoin; SOL Crosses $200 Amid Meme Coin Frenzy
    02:16
    Standard Chartered Bullish on Bitcoin; SOL Crosses $200 Amid Meme Coin Frenzy
  • What's Driving the Rally in Reddit Community Token MOON?
    01:06
    What's Driving the Rally in Reddit Community Token MOON?
  • Tokenization and Stablecoins Continue to Be TradFi's Top Interest in Crypto: Expert
    00:53
    Tokenization and Stablecoins Continue to Be TradFi's Top Interest in Crypto: Expert
  • Multibillion-dollar valuations are becoming the norm for crypto custody specialists like San Francisco-based Anchorage, which will manage digital assets for institutions looking to spice up their clients’ portfolios going forward. Take custody-tech providers like Fireblocks and U.K.-based Copper, both of whom recently closed funding rounds, for example.

    CoinDesk reported in October that Anchorage was raising at a $2 billion-plus valuation.

    “As more and more institutions look to add crypto services into their offerings, we find ourselves at an inflection point,” Anchorage co-founder Diogo Mónica said in a statement, “This funding positions Anchorage Digital to meet the unprecedented institutional demand for this rapidly evolving market.”

    This will be KKR’s first direct equity investment in a digital asset company, through its Next Generation Technology Growth Fund II.

    “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,” said Ben Pederson of KKR’s Technology Growth Equity Team in a statement.

    Goldman Sachs is known for having a smart digital assets team, one of the leading banks in the space.

    The bank’s backing is testament to Anchorage’s dynamic year, which has included receiving a U.S. federal banking charter from the Office of Comptroller of the Currency, as well as bagging an $80 million Series C round.

    “We are certain Anchorage will be a crucial part of the digital asset infrastructure and we are excited to be an investor,” Goldman Sachs Head of North America Digital Assets Oli Harris said in a statement.

    Disclosure

    Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

    Ian Allison

    Ian Allison is an award-winning senior reporter at CoinDesk. He holds ETH.


    Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.


    Read more about