Crypto Custody Startup Anchorage Closes $350M Funding Deal at $3B Valuation

Anchorage Digital has raised $350 million in a Series D funding round at a $3 billion valuation led by global investment firm KKR, according to a blog post on Tuesday (Dec. 15).

Additional investors included Goldman Sachs, Alameda Research, Andreessen Horowitz, Apollo credit funds, Blockchain Capital, Delta Blockchain Fund, Elad Gil, GIC, GoldenTree Asset Management, Innovius Capital, Kraken, Lux Capital, Senator Investment Group, Standard Investments, Thoma Bravo and Wellington Management.

“This new capital will accelerate our efforts to integrate digital assets into the global economy. Our focus at Anchorage has always been to make it safe and accessible for institutions to participate in the rapidly evolving digital asset space,” said Anchorage Co-founders Diogo Mónica, who serves as president, and Nathan McCauley, CEO.

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Anchorage is planning to use the new capital to boost its ability to offer custom crypto infrastructure solutions to global FinTech clients. The new monies will also enhance the company’s ability to assist institutions in traversing the fast-changing financial ecosystem. The latest round of funds will also go toward expanding Anchorage’s workforce, supporting and growing its customer base, and expanding its product suite.

“As a pioneer in enabling institutional investors to access digital assets, Anchorage has built a best-in-class, institutional-grade digital asset platform that combines the best practices of both modern security and usability,” said Ben Pederson, senior leader on KKR’s Technology Growth Equity Team.

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When Anchorage first launched, it had the most secure platform for institutions that solved for custody. The suite now has grown to offer prime brokerage services and custom API integrations for institutions interested in digital assets.

Rob Bittencourt, partner at Apollo Global Management, said that using the latest technology and institutional approaches to regulatory compliance, Anchorage Digital is among the leaders in digital asset infrastructure. “We believe Anchorage can play a pivotal role in reshaping modern finance as digital asset adoption grows,” Bittencourt said.