Private Equity Giant KKR Plans to Back Anchorage Fundraise at $3B Valuation: Report

Private equity firm KKR plans to lead a Series D investment round for crypto platform Anchorage, according to a person quotes by The Information. The funding would reportedly push Anchorage up to a roughly $3 billion valuation.

• San Francisco-based Anchorage is a crypto custody platform that lets institutional investors safely hold and use crypto. Anchorage was the first crypto firm to receive a U.S. federal banking charter from the Office of the Comptroller of the Currency, making Anchorage the first nationwide digital asset bank.
• In October, sources told CoinDesk that Anchorage was planning to raise a large new funding round at a $2 billion to $3 billion valuation.
• Anchorage raised an $80 million Series C in February of this year, but did not disclose the valuation at that time.
• KKR had $459 billion in assets under management as of its third-quarter results reported earlier this month. In September, the firm made its first blockchain-related investment by backing the flagship fund of ParaFi Capital, which focuses on decentralized finance markets. KKR also reportedly established a working group dedicated to determining the best use cases for blockchain technology.