Luno: Now Backed by Google, Capital G, SoftBank and GIC

Luno’s parent company, Digital Currency Group (DCG), has continued to expand, gaining expertise and now backing from a group of equity investors that includes SoftBank, Google’s Capital G, and GIC.

“(We are) part of the DCG family and to have the backing of some of the world’s biggest investors,” it says.

DCG recently closed a significant secondary investment round of more than RM2.9 billion and is now valued at RM41 billion. 

​​At the parent company level, DCG now has around 30 employees, it says, “Across the entire organization, including our wholly-owned subsidiaries, we have around 1,000 employees in 10 offices on 4 continents”.

“SoftBank’s Vision Fund II and Latin American Fund led a syndicate of equity investors that included Google’s Capital G, Ribbit Capital, GIC, Tribe Capital, and Emory University in purchasing more than RM2.9 billion of DCG stock from existing investors,” it says.

This announcement marks the largest investment rounds of this type in the cryptocurrency sector. 

DCG has now invested in more than 200 blockchain companies in more than 30 countries around the world and will exceed RM4 billion in revenues in 2021.

Other than Luno, DCG is also the parent company of several subsidiaries that have emerged as digital asset leaders such as Grayscale Investments, Genesis, Foundry, CoinDesk, and TradeBlock.

In addition, to its venture portfolio and subsidiary companies, DCG has also expanded its investment focus, among of the highlights, they will continue to uncover opportunities through new increased investments in digital tokens and other digital assets.

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