Funding round
NYDIG Growth
Reported as "Growth Equity"
NYDIG, which works in power and bitcoin mining operations in New York, raised $100M in a Growth round announced on 8 Apr 2021, at a $7.00B post-money valuation. 2 firms took part. It is NYDIG's third venture round on record; the one before was a Growth in Mar 2021.
$100M
Amount raised
$7.00B
Post-money valuation
2
Investors
no lead named
1.4%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced NYDIG at $7.00B after the new money. The $100M bought investors about 1.4% of the company. It came 1 month after NYDIG's Growth. It is 7.4% of the $1.35B NYDIG has raised in the venture rounds on record. NYDIG raised again 8 months later: a Growth round of $1.00B in Dec 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 8 Mar 2021, led by Stone Ridge Holdings Group, Morgan Stanley and New York Life $200M
- Growth this round 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
2 firms took part; no lead investor was named.
Investors
- Starr Insurance new investor
- backs 18 venture-backed companies new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to geographic expansion, scaling operations and working capital.
- Geographic expansion
- Scaling operations
- Working capital
Comparable rounds
How it compares
7 Growth rounds in Cryptocurrency within a year either side disclosed an amount; the median was $41M, and this round was 2.4 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 |
| Cryptocurrency | 1 Apr 2022 | $41M | not disclosed | Liberty City Ventures and Morgan Creek Digital |
Sources
Where this comes from
Reported by 4 sources.
Questions
Frequently asked
How much did NYDIG raise in its Growth round?
NYDIG raised $100M in its Growth round, announced in Apr 2021.
Which investors took part in NYDIG's Growth round?
Starr Insurance and Liberty Mutual Strategic Ventures.
What was NYDIG's valuation at the Growth round?
$7.00B post-money.
How does it compare with other Growth rounds in Cryptocurrency?
7 Growth rounds in Cryptocurrency within a year either side disclosed an amount; the median was $41M, and this round was 2.4 times the median.
Did NYDIG raise again after this round?
Yes: a Growth round in Dec 2021 of $1.00B at $7.00B post-money.