Crypto Startup Hidden Road Partners Pursues $120 Million in Funding to Reach $1 Billion Valuation
Wednesday, 17 April 2024, 18:36
Crypto Startup Seeks $120 Million Funding for $1 Billion Valuation
Hidden Road Partners, a startup prime brokerage aiming for a $1 billion valuation, backed by Citadel Securities and other key crypto institutions, plans to raise $120 million in a series B equity round.
Startup Background
Founded in 2018 by Marc Asch, a former SAC Capital employee, Hidden Road offers prime brokerage and financing services for various markets, including cryptocurrencies and forex.
Investment Landscape
- Castle Island Ventures led the $50 million series A funding round.
- VC investments in crypto startups totaled $2.5 billion in Q1 2024.
Renewed venture capital interest in cryptocurrencies may drive market cap to new highs, promoting industry growth and awareness campaigns.
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