Digital Currency Group Raises $600 Million
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Nov. 19, 2021
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Barry Silbert's Digital Currency Group (DCG) has raised $600 million through debt financing. The credit facility has been managed by investment firm Eldridge.

Equity has been issued by Capital Group, Davidson Kempner Capital Management, Francisco Partners and other institutional lenders, according to the press release.

Goodwin Procter has acted as legal advisor to the transaction, while investment bank Ducera Partners has provided financial advice.

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Digital Currency Group officials have said the deal "enhances DCG’s strategic, operational, and financial capabilities by reducing DCG’s cost of capital and fueling the growth of its investment portfolio and wholly-owned subsidiaries." The company has entered the debt capital markets for the first time. Barry Silbert stated:

"This financing strengthens our ability to respond dynamically to opportunities in the market. We’re very pleased to partner with this cohort of high-quality institutional lenders and, as a profitable and rapidly growing company, we are fortunate to be able to access this growth financing with an attractive cost of capital."

DCG shareholders have previously conducted a $700 million private sale of securities. As part of the event, the company reached a valuation of $10 billion.

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