Bitcoin technology company NYDIG has raised $200 million in a recently-concluded growth capital round. The company said in a press release that the round was led by Stone Ridge Holdings Group, Morgan Stanley, New York Life, MassMutual, Soros Fund Management, and FS Investments. The company added that two other companies which led its previous funding rounds also participated in the recent round. The companies are Bessemer Venture Partners and FinTech Collective.
The co-founder and CEO of NYDIG, Robert Gutmann, said the participating firms are no longer investors but partners. Noting that NYDIG and the partners have been collaborating over the years, the Bitcoin tech company said it would continue to work with the partnering firms on “Bitcoin-related strategic initiatives spanning investment management, insurance, banking, clean energy, and philanthropy.”
NYDIG’s founder and executive chairman, Ross Stevens, expressed his excitement over the secured funds. He said:
“I am thrilled by what this group of incredible investors will mean for NYDIG, but especially for Bitcoin.”
The CEO said that the partnership is an affirmation of the increasing adoption of Bitcoin among institutions. He also noted that NYDIG is reliable and diligent in providing financial services.
In the press release, the company announced that more than $1 billion’s worth of direct and indirect bitcoin held on NYDIG’s custody platform belongs to life, annuity, and property & casualty insurers.
Image Credits: Pixabay
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