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Digital Currency Group closes $700m funding led by Softbank, Google, others; valued at $10bn

DCG (Digital Currency Group), Luno’s parent company, has closed a $700 million funding round from some of the world’s biggest investors including SoftBank, Google’s Capital G and GIC, valuing the company at $10 billion

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Luno + Digital Currency Group

The big new now is that DCG (Digital Currency Group), Luno’s parent company, has closed a $700 million funding round from some of the world’s biggest investors including SoftBank, Google’s Capital G and GIC, valuing the company at $10 billion.

Key highlights:

  • Digital Currency Group (DCG) closed a secondary investment round.
  • SoftBank’s Vision Fund II and Latin American Fund led a syndicate of equity investors that included Google’s Capital G, Ribbit Capital, GIC, Tribe Capital, and Emory University in purchasing more than $700 million of DCG stock from existing investors.
  • This transaction values the company at $10 billion
  • DCG Founder and CEO Barry Silbert did not sell any shares as part of the secondary transaction.
  • DCG has only raised $25mm in primary capital since the company was formed in 2015.

The investment marks a huge endorsement for the global crypto sector and provides Luno with crucial capital to fuel its expansion to the USA as well as the expertise and backing from a syndicate of equity investors.

DCG has now invested in more than 200 blockchain companies in 30+ countries around the world. The company is projected to exceed $1 billion in revenues in 2021.

Meanwhile, at the parent company level, DCG now has ~30 employees. Across the entire organization, including our wholly-owned subsidiaries, we have ~1,000 employees in 10 offices on 4 continents.

DCG the parent company of several subsidiaries that have emerged as digital asset leaders:

Luno is a consumer-focused digital asset platform that has thrived in the emerging and frontier markets, providing digital asset education, knowledge, and investment tools to customers in Africa, Asia, and Europe.

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The company has grown from 2 to more than 9 million customers worldwide since 2019, and Luno is expanding to the US in 2022.

Grayscale Investments is the world’s largest digital currency asset manager with more than $50 billion in assets under management and 15 different investments products, including the largest Bitcoin (GBTC) and Ethereum (ETHE) funds in the world.

Genesis is a full-service digital currency prime brokerage and one of the leading institutional trading and lending firms in the world, facilitating hundreds of billions of dollars in annual trades, loans, and transactions. Recently surpassed $65 billion in loan originations and acquired a custodian in 2020. Genesis is a FINRA-registered broker-dealer and has a NY Bitlicense.

Founded in 2019, Foundry has emerged as one of the most successful bitcoin mining and digital asset staking companies in North America. They provide equipment financing and procurement, mining advisory services, and host North America’s largest Bitcoin mining pool (Foundry USA), which is one of the fastest growing mining pools in the world. Foundry USA is consistently a top 5 global mining pool.

CoinDesk is a premier financial media, data, index, and events company, recently pulling in more than 30 million UVs in a single month.

CoinDesk also acquired TradeBlock in 2020 and today, the re-branded CoinDesk Indexes tracks more than $50 billion in AUM.

TradeBlock is building an institutional-grade data and trading platform.

Lastly, DCG is building a new subsidiary that will launch in 2022.

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