NYDIG, the firm that facilitated MassMutual’s $100 million bitcoin buy last year, has raised $200 million from a cadre of big-name investors.
The round included Stone Ridge Holdings Group, Morgan Stanley, New York Life, MassMutual, Soros Fund Management and FS Investments, NYDIG announced Monday. Past investors Bessemer Venture Partners and FinTech Collective also participated.
“The firms participating in this round are more than investors – they are partners, each well known to us for years,” Robert Gutmann, co-founder and CEO of NYDIG, said in a press statement.
“NYDIG will be working with these firms on bitcoin-related strategic initiatives spanning investment management, insurance, banking, clean energy and philanthropy.”
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NYDIG burst onto the scene in December as the firm that got an 169-year-old insurance institution to embrace bitcoin in full. MassMutual took a $5 million equity stake in NYDIG at the time.
The firm has since become a key player in catalyzing Wall Street’s embrace of the original cryptocurrency. Just last month, Gutmann said NYDIG will likely manage over $25 billion in bitcoin on behalf of clients by the end of 2021.
In Monday’s announcement, Gutmann offered a tease of sorts:
The round included Stone Ridge Holdings Group, Morgan Stanley, New York Life, MassMutual, Soros Fund Management and FS Investments, NYDIG announced Monday. Past investors Bessemer Venture Partners and FinTech Collective also participated.
“The firms participating in this round are more than investors – they are partners, each well known to us for years,” Robert Gutmann, co-founder and CEO of NYDIG, said in a press statement.
“NYDIG will be working with these firms on bitcoin-related strategic initiatives spanning investment management, insurance, banking, clean energy and philanthropy.”
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By signing up, you will receive emails about CoinDesk products and you agree to our terms & conditions and privacy policy.
NYDIG burst onto the scene in December as the firm that got an 169-year-old insurance institution to embrace bitcoin in full. MassMutual took a $5 million equity stake in NYDIG at the time.
The firm has since become a key player in catalyzing Wall Street’s embrace of the original cryptocurrency. Just last month, Gutmann said NYDIG will likely manage over $25 billion in bitcoin on behalf of clients by the end of 2021.
In Monday’s announcement, Gutmann offered a tease of sorts:
"In the months and quarters ahead, look out for an explosion of innovation in bitcoin products and services delivered by NYDIG, in partnership with our new investors."
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Francisco Gimeno - BC Analyst Big investors have always funds to do experiments. We are sure they invest with full knowledge they can earn more profits and also wish to develop the crypto industry (to get more profits and not to be out of future trends). We hope that their wishes (see an explosion of innovation in products and services in crypto) be true sooner than later.