Funding round
Amber Group Series C
Amber Group, which works in digital asset wealth management services in Singapore, raised $300M in a Series C round announced on 15 Dec 2022, led by Fenbushi Capital, at a $3.00B post-money valuation. 3 firms took part. It is Amber Group's third venture round on record; the one before was a Series B in Feb 2022.
$300M
Amount raised
$3.00B
Post-money valuation
$2.70B pre-money
3
Investors
1 lead
1.0x
Step-up from the Series B
$3.00B in Feb 2022
10%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Amber Group at $3.00B after the new money, 1.0 times the $3.00B of its Series B (Feb 2022). The $300M bought investors about 10% of the company. It came 10 months after Amber Group's Series B. It is 57% of the $528M Amber Group has raised in the venture rounds on record. No later venture round is on record for Amber Group.
Investors
Who put money in
Fenbushi Capital led the round with 2 other firms.
Lead investor
- backs 48 venture-backed companies new investor
Also in the round
- Sequoia Capital backs 589 venture-backed companies new investor
- Temasek backs 195 venture-backed companies new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to scaling operations and working capital.
- Scaling operations
- Working capital
Comparable rounds
How it compares
5 Series C rounds in Investment Consultants & Financial Advisors within a year either side disclosed an amount; the median was $50M, and this round was 6.0 times the median. The closest in time, other companies' Series C rounds in Investment Consultants & Financial Advisors:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Investment Consultants & Financial Advisors | 6 Dec 2022 | $14M | not disclosed | BNY Mellon |
| Investment Consultants & Financial Advisors | 14 Sep 2022 | $50M | not disclosed | Jordan Park Group |
| Investment Consultants & Financial Advisors | 9 Aug 2023 | $35M | not disclosed | not named |
| CAIS Investment Consultants & Financial Advisors | 11 Jan 2022 | $225M | $1.00B | Apollo and Motive Partners |
| Investment Consultants & Financial Advisors | 19 Jan 2022 | $100M | not disclosed | Durable Capital Partners |
Sources
Where this comes from
Reported by 3 sources.
Questions
Frequently asked
How much did Amber Group raise in its Series C round?
Amber Group raised $300M in its Series C round, announced in Dec 2022.
Who led Amber Group's Series C round?
Fenbushi Capital led it, with Sequoia Capital and Temasek.
What was Amber Group's valuation at the Series C round?
$3.00B post-money ($2.70B pre-money).
How does it compare with other Series C rounds in Investment Consultants & Financial Advisors?
5 Series C rounds in Investment Consultants & Financial Advisors within a year either side disclosed an amount; the median was $50M, and this round was 6.0 times the median.