Funding round
NYDIG Growth
Reported as "Growth Equity"
NYDIG, which works in power and bitcoin mining operations in New York, raised $200M in a Growth round announced on 8 Mar 2021, led by Stone Ridge Holdings Group, Morgan Stanley, New York Life, MassMutual Ventures, Soros Fund Management and FS Investors. 8 firms took part. It is NYDIG's second venture round on record; the one before was a Growth in Oct 2020.
$200M
Amount raised
Not disclosed
Post-money valuation
8
Investors
6 leads
Valuation
What this round says about the price
NYDIG did not disclose a valuation in this round. It came 5 months after NYDIG's Growth. It is 15% of the $1.35B NYDIG has raised in the venture rounds on record. NYDIG raised again 1 month later: a Growth round of $100M in Apr 2021, at $7.00B post-money.
NYDIG's funding rounds
NYDIG has 4 venture rounds on record and 1 other deal. This one is highlighted.
- Growth 13 Oct 2020, led by FinTech Collective $50M
- Other not a venture round 10 Dec 2020, led by Massachusetts Mutual Life Insurance Company $5.0M
- Growth this round 8 Mar 2021, led by Stone Ridge Holdings Group, Morgan Stanley and New York Life $200M
- Growth 8 Apr 2021 $100M$7.00B post-money
- Growth 14 Dec 2021, led by WestCap $1.00B$7.00B post-money
Investors
Who put money in
Stone Ridge Holdings Group, Morgan Stanley, New York Life, MassMutual Ventures, Soros Fund Management and FS Investors led the round with 2 other firms.
Lead investors
- Stone Ridge Holdings Group new investor
- Morgan Stanley backs 120 venture-backed companies new investor
- New York Life new investor
- backs 79 venture-backed companies new investor
- Soros Fund Management new investor
- backs 4 venture-backed companies new investor
Also in the round
- Bessemer Venture Partners backs 412 venture-backed companies new investor
- backs 47 venture-backed companies new investor
Comparable rounds
How it compares
6 Growth rounds in Cryptocurrency within a year either side disclosed an amount; the median was $94M, and this round was 2.1 times the median. The closest in time, other companies' Growth rounds in Cryptocurrency:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Cryptocurrency | 27 Apr 2021 | $36M | $1.45B | not named |
| Cryptocurrency | 21 Jan 2021 | $38M | not disclosed | GP Investments and Parallax Ventures |
| Cryptocurrency | 21 Sep 2021 | $431M | not disclosed | Paradigm |
| Cryptocurrency | 1 Jul 2020 | $30M | not disclosed | SBI |
| Polygon Cryptocurrency | 7 Feb 2022 | $450M | $20.00B | Sequoia Capital India |
| Cryptocurrency | 3 Feb 2022 | $150M | not disclosed | not named |
Sources
Where this comes from
Reported by 5 sources.
Questions
Frequently asked
How much did NYDIG raise in its Growth round?
NYDIG raised $200M in its Growth round, announced in Mar 2021.
Who led NYDIG's Growth round?
Stone Ridge Holdings Group, Morgan Stanley, New York Life, MassMutual Ventures, Soros Fund Management and FS Investors led it, with Bessemer Venture Partners and FinTech Collective.
What was NYDIG's valuation at the Growth round?
It was not disclosed.
How does it compare with other Growth rounds in Cryptocurrency?
6 Growth rounds in Cryptocurrency within a year either side disclosed an amount; the median was $94M, and this round was 2.1 times the median.
Did NYDIG raise again after this round?
Yes: a Growth round in Apr 2021 of $100M at $7.00B post-money.