Funding round
Anchorage Digital Series C
Anchorage Digital, which works in digital asset infrastructure solutions in San Francisco, raised $80M in a Series C round announced on 25 Feb 2021, led by GIC. 5 firms took part. It is Anchorage Digital's third venture round on record; the one before was a Series B in Jul 2019.
$80M
Amount raised
Not disclosed
Post-money valuation
5
Investors
1 lead
Valuation
What this round says about the price
Anchorage Digital did not disclose a valuation in this round. It came 19 months after Anchorage Digital's Series B. It is 14% of the $587M Anchorage Digital has raised in the venture rounds on record. Anchorage Digital raised again 10 months later: a Series D round of $350M in Dec 2021, at $3.00B post-money.
Anchorage Digital's funding rounds
Anchorage Digital has 5 venture rounds on record. This one is highlighted.
Investors
Who put money in
GIC led the round with 4 other firms.
Lead investor
- GIC backs 98 venture-backed companies new investor
Also in the round
- Andreessen Horowitz backs 722 venture-backed companies new investor
- backs 59 venture-backed companies new investor
- Lux Capital backs 194 venture-backed companies new investor
- backs 25 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
10 Series C rounds in Cryptocurrency within a year either side disclosed an amount; the median was $104M, and this round was 77% of the median. The closest in time, other companies' Series C rounds in Cryptocurrency:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Blockchain.com Cryptocurrency | 24 Mar 2021 | $311M | $5.20B | DST Global and Lightspeed Venture Partners |
| Paxos Cryptocurrency | 17 Dec 2020 | $142M | not disclosed | Declaration Partners |
| Cryptocurrency | 15 Dec 2020 | $65M | not disclosed | Accel |
| Cryptocurrency | 5 May 2021 | $250M | $2.20B | Tiger Global and Coatue |
| Cryptocurrency | 15 Jun 2021 | $65M | not disclosed | Paradigm |
| BlockFi Cryptocurrency | 21 Aug 2020 | $50M | not disclosed | Morgan Creek Digital |
| Cryptocurrency | 11 Aug 2020 | $8.0M | $101M | not named |
| Cryptocurrency | 30 Sep 2021 | $35M | not disclosed | Point72 Ventures |
Sources
Where this comes from
Reported by 3 sources. The deal data marks this round as not yet confirmed by an official announcement. Unconfirmed
Questions
Frequently asked
How much did Anchorage Digital raise in its Series C round?
Anchorage Digital raised $80M in its Series C round, announced in Feb 2021.
Who led Anchorage Digital's Series C round?
GIC led it, with Andreessen Horowitz, Blockchain Capital, Lux Capital and Indico Capital Partners.
What was Anchorage Digital's valuation at the Series C round?
It was not disclosed.
How does it compare with other Series C rounds in Cryptocurrency?
10 Series C rounds in Cryptocurrency within a year either side disclosed an amount; the median was $104M, and this round was 77% of the median.
Did Anchorage Digital raise again after this round?
Yes: a Series D round in Dec 2021 of $350M at $3.00B post-money.