Funding round
Anchorage Digital Series D
Anchorage Digital, which works in digital asset infrastructure solutions in San Francisco, raised $350M in a Series D round announced on 15 Dec 2021, led by KKR, at a $3.00B post-money valuation. 23 firms took part, with 1 individual investor. It is Anchorage Digital's fourth venture round on record; the one before was a Series C in Feb 2021.
$350M
Amount raised
$3.00B
Post-money valuation
$2.65B pre-money
23
Investors
1 lead
12%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Anchorage Digital at $3.00B after the new money. The $350M bought investors about 12% of the company. It came 10 months after Anchorage Digital's Series C. It is 60% of the $587M Anchorage Digital has raised in the venture rounds on record. Anchorage Digital raised again 50 months later: a Growth round of $100M in Feb 2026.
Anchorage Digital's funding rounds
Anchorage Digital has 5 venture rounds on record. This one is highlighted.
Investors
Who put money in
KKR led the round with 22 other firms.
Lead investor
- KKR backs 104 venture-backed companies new investor
Also in the round
- Goldman Sachs backs 218 venture-backed companies new investor
- Alameda Research new investor
- Andreessen Horowitz backs 722 venture-backed companies new investor
- Apollo backs 41 venture-backed companies new investor
- backs 59 venture-backed companies new investor
- backs 14 venture-backed companies new investor
- GIC backs 98 venture-backed companies new investor
- GoldenTree Asset Management new investor
- backs 11 venture-backed companies new investor
- Kraken new investor
- Lux Capital backs 194 venture-backed companies new investor
- Senator Investment Group new investor
- Standard Investments new investor
- backs 19 venture-backed companies new investor
- Wellington Management new investor
- BlackRock new investor
- PayPal Ventures new investor
- Chloe Sladden new investor
- backs 65 venture-backed companies new investor
- The HIT Forge new investor
- OLI Harris new investor
- Zettle new investor
Individual investors: Elad Gil.
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Hiring
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
7 Series D rounds in Cryptocurrency within a year either side disclosed an amount; the median was $125M, and this round was 2.8 times the median. The closest in time, other companies' Series D rounds in Cryptocurrency:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Cryptocurrency | 12 Jan 2022 | $105M | not disclosed | Bain Capital Ventures |
| Cryptocurrency | 7 Jun 2021 | $61M | $500M | Richmond Global Ventures and Andreessen Horowitz |
| Paxos Cryptocurrency | 29 Apr 2021 | $300M | $2.40B | Oak HC/FT |
| Cryptocurrency | 21 Apr 2021 | $120M | not disclosed | not named |
| BlockFi Cryptocurrency | 11 Mar 2021 | $350M | $3.00B | Bain Capital Ventures and DST Global |
| Cryptocurrency | 17 Feb 2021 | $220M | $1.20B | not named |
| Coinmerce Cryptocurrency | 18 Jan 2021 | $125M | $1.70B | Index Ventures and Meritech Capital |
Sources
Where this comes from
Reported by 5 sources.
Questions
Frequently asked
How much did Anchorage Digital raise in its Series D round?
Anchorage Digital raised $350M in its Series D round, announced in Dec 2021.
Who led Anchorage Digital's Series D round?
KKR led it, with Goldman Sachs, Alameda Research, Andreessen Horowitz, Apollo and Blockchain Capital and 17 more.
What was Anchorage Digital's valuation at the Series D round?
$3.00B post-money ($2.65B pre-money).
How does it compare with other Series D rounds in Cryptocurrency?
7 Series D rounds in Cryptocurrency within a year either side disclosed an amount; the median was $125M, and this round was 2.8 times the median.
Did Anchorage Digital raise again after this round?
Yes: a Growth round in Feb 2026 of $100M.