SoftBank leads funding round into crypto firm Blockdaemon
02:05, 22 September 2021
SoftBank Group’s Vision Fund led the latest fundraising into US cryptocurrency infrastructure provider Blockdaemon taking its valuation to about $1.25bn.
Blockdaemon’s latest Series B funding round raised $155m from SoftBank Vision Fund 2, Matrix Capital Management, Sapphire Ventures, and Morgan Creek Digital.
The company which is already backed by US investment bank Goldman Sachs said the fresh capital infusion will help Blockdaemon fund strategic acquisitions and expansions in Singapore, Japan, UK and Germany.
We are proud to announce that we have raised $155M in investments, led by @SoftBank Vision Fund 2, with a valuation of $1.255B.https://t.co/n1c0487KmA
— Blockdaemon (@BlockdaemonHQ) September 21, 2021
Existing seed round investors increase investments
Blockdaemon supports more than 40 blockchain networks including ETH 2.0, Bitcoin, Solana, Terra, Cardano, Polkadot and the Lightning Network. Blockdaemon said the latest funding will make it the world’s largest independent blockchain infrastructure platform for institutions.
Existing seed round investors Boldstart Ventures, Goldman Sachs, Greenspring Associates, CoinFund, Kenetic, Kraken Ventures, Borderless Capital, and Lerer Hippeau also increased their investments as part of the B round, the company added.
Konstantin Richter, CEO and founder of Blockdaemon, said, “We are committed to a future of decentralized financial infrastructure and accelerating the ease of integration to bridge traditional banking to the crypto ecosystem. As regulations get further defined, a backer of the caliber of SoftBank and Masa’s experience is crucial. We are deeply gratified to have the support and confidence of the financial, tech and VC titans who made this latest round possible.”
Second fund raise in 2021
Blockdaemon only completed its Series A fundrasing in June, when it said it already had $5bn in staked assets and was on track to have upwards of $50bn by the end of 2021.
Earlier in May, the company signed a partnership with crypto investment firm CoinShares to build staking and blockchain networking infrastructure for CoinShares’ trading and asset management platform.
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