Institutional Roundup: NYDIG raises a record $1 billion, Anchorage valued at $3 billion

The cryptocurrency industry is drawing an increasing number of institutional players. This is evident in both new investments in infrastructure and the growing attention companies are giving Bitcoin as an asset class. The most important developments of the past weeks are in ForkLog’s briefing.

NYDIG raises $1 billion in a $7 billion valuation

The New York Digital Investment Group (NYDIG), aimed at institutional clients, raised $1 billion, closing a record round for the industry. Investors valued the company at $7 billion.

The round was led by WestCap. Participants included Bessemer Venture Partners, FinTech Collective, and those that had previously backed NYDIG, including Affirm, FIS, Fiserv, MassMutual, Morgan Stanley and New York Life.

Anchorage raises $350 million at a $3 billion valuation

The institutional-client-focused crypto bank Anchorage raised $350 million in a Series D at a $3 billion valuation. It was led by KKR.

Financing was also provided by Goldman Sachs, Andreessen Horowitz, Alameda Research, Apollo, Wellington Management, BlackRock, Blockchain, Kraken and PayPal Ventures.

The funds will be used for international expansion and to support banks and corporations in creating crypto products for clients.

1inch Network raises $175 million from Alameda Research, VanEck and other investors

DeFi project 1inch Network closed a Series B round of $175 million. It was led by Amber Group with about 50 investors. Among them were VanEck, Fenbushi Capital, Alameda Research, Celsius, Nexo and Gemini Frontier Fund.

The funds will be used to develop new protocols, create additional features for the 1INCH token, expand staff, and improve 1inch to meet regulatory requirements for DeFi projects in Europe and the United States.

SoftBank invests $150 million in Zepeto metaverse platform

The Zepeto metaverse platform from NAVER Corporation raised $150 million from SoftBank in a Series B financing round.

Users of the virtual world create three-dimensional avatars and can interact with one another, attend events and purchase digital items, including Gucci and Ralph Lauren clothing.

The valuation of Zepeto surpassed $1 billion.

Lydia raises $100 million

The Lydia payment app raised $100 million in a Series C round. The startup’s valuation exceeded $1 billion.

Existing investors Tencent, Accel and Founders Future participated alongside new investors Dragoneer and Echo Street.

The app’s user base stands at 5.5 million users.

The funds will be used to expand the team to 800 people over the next three years and to grow its European audience to 10 million active customers by 2025.

Sequoia Capital leads CertiK $80 million round

Security-auditing-focused startup CertiK raised $80 million in a Series B2 round. It was led by Sequoia Capital China.

Tiger Global, Coatue Management and GL Ventures also participated. Total investments surpassed $140 million, and the startup’s valuation approached $1 billion.

Nansen raises $75 million at $750 million valuation

Analytics company Nansen raised $75 million in a Series B round led by Accel. Participants included GIC, Andreessen Horowitz, Tiger Global, SCB 10X and other venture investors.

The funds will be used to build and develop new products, hire staff, and broaden global presence through innovative features and multi‑chain integrations.

Kraken Ventures raises $65 million

Kraken Ventures raised $65 million in its first fund, which will invest in crypto and technology startups at early stages.

The firm has already backed Blockdaemon, Anchorage, Messari, Hashflow, Acala, pStake and others. The fund targets initial investments ranging from $500,000 to $2 million.

TRM Labs raises $60 million from Tiger Global and others

Blockchain analytics firm TRM Labs raised $60 million in a Series B round led by Tiger Global.

Participants included Visa, PayPal Ventures, Block (formerly Square), Jump Capital, DRW Venture Capital, Marshall Wace, Citi Ventures, Amex Ventures and others.

Upbit’s blockchain division raises $60 million

Lambda256, the blockchain division of Upbit operator Dunamu, raised $60 million in a Series B round. The company’s valuation surpassed $300 million.

Participants included Dunamu, Hanhwa Systems, Chong Kun Dang, Yanolja, Daelim, VTI Partners, DSC Investments, Shinhan Venture Capital, KB Investments and SBI Investments.

The funds will be used to expand the blockchain-as-a-service business, where the company serves more than 3,300 corporate clients.

Ramp raises $52.7 million

Crypto infrastructure startup Ramp raised $52.7 million in a Series A, led by Balderton Capital.

Investors included NFX, Galaxy Digital, Seedcamp, Firstminute Capital, as well as Wise co-founder Taavet Hinrikus and TrueLayer CEO Francesco Simoneski.

The funds will be used to grow the team, seal new partnerships, and expand collaboration with notable players such as Mozilla, Opera, Sorare and Axie Infinity.

Mercado Bitcoin parent raises $50.3 million

2TM Group, the parent of Brazilian crypto exchange Mercado Bitcoin, raised $50.3 million in an extended Series B round.

New investors include American funds 10T and Tribe Capital, as well as Brazilian firms Traders Club, Pipo Capital and Endeavour.

The funds will be used to expand in Latin America. The company named Argentina, Chile, Colombia and Mexico as priority markets.

Also on ForkLog:

• The blockchain startup by Meta alumni raised $36 million from Andreessen Horowitz.
• The crypto-focused robo-advisor Stacked raised $35 million.
• Animoca Brands backed venture accelerator Brinc in a $30 million round.
• BitNile led a $15 million round for the Earnity DeFi project.
• DeFi platform Slingshot Finance raised $15 million.
• Alameda Research and Animoca Brands backed the P2E gaming platform in a $6.5 million round.

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