Eldrige leads Digital Currency Group’s maiden $600 million debt funding round


The Digital Currency Group (DCG) announced on Thursday that it has raised $ 600 million in a new credit line by debuting in the debt capital markets. Private Equity Fund Eldridge led a round of debt financing.

The company said the increase it provides DCG lines of credit that allow it to draw on as needed “strengthens DCG’s strategic, operational and financial capabilities by lowering capital costs and helping to develop its wholly owned investment portfolio. Company”.

Investors for the round include Davidson Kempner Capital Management, Francisco Partners and Capital Group. According to DCG, the company intends to use the new cash injection to increase its investment portfolio and 100% operations.

Digital Currency Group is a major player in the crypto area. Grayscale Investments, operated by DCG, has over $ 50 billion in assets. In mid-October, DCG President Barry Silbert announced that the company was considering moving to an ETF, which was immediately settled.

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The increase came two weeks after DCG sold $ 700 million worth of shares in a pair of SoftBank funds. The sale increased the company’s value to $ 10 billion. In an interview with The Wall Street Journal, Adam Silbert stated that the investment was not aimed at raising money for DCG, but rather at “an opportunity for early users to come out and make money.” The company claimed that all the money raised was paid to the selling shareholders, and none of them sold the entire stake.



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