Digital Currency Group Raises New $600 Million Credit Facility

Nov 18, 2021•over 3 years ago

Amount Raised

$600 Million

Stamford

Description

Digital Currency Group (DCG) today announced the completion of a debt capital raise providing a credit facility up to $600 million. Eldridge led and served as administrative agent of the credit facility, which includes a syndicate of institutional lenders and funds managed by Capital Group, Davidson Kempner Capital Management, and Francisco Partners, among others. The financing marks the company’s first entry into the debt capital markets and follows a recent $700 million secondary equity transaction led by SoftBank Group. The debt financing enhances DCG’s strategic, operational, and financial capabilities by reducing DCG’s cost of capital and fueling the growth of its investment portfolio and wholly-owned subsidiaries.

Company Information

Company

Digital Currency Group

Location

Stamford, Connecticut, United States

About

Founded in 2015 by CEO Barry Silbert, DCG is the most active investor in the blockchain sector, with a mission to accelerate the development of a better financial system through the proliferation of digital assets and blockchain technology. Today, DCG sits at the epicenter of the industry, backing more than 200 blockchain-related companies in over 35 countries. DCG also invests directly in digital currencies and other digital assets. In addition to its investment portfolio, DCG is the parent company of Genesis (a global digital asset prime brokerage), Grayscale Investments (the world’s largest digital currency asset manager), CoinDesk (a leading financial media, data, and information company), Foundry (a leader in bitcoin mining and staking), Luno (a leading cryptocurrency platform with a large international footprint), and TradeBlock (an institutional trading platform).

Funding Insights

Based on industry data

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