-- New round values premier digital asset platform at over $3 billion

Anchorage Digital ("Anchorage" or the "Company"), the premier digital asset 
platform for institutions, today announced it has closed a $350 million Series 
D funding round led by global investment firm KKR. Participants include Goldman 
Sachs, Alameda Research, Andreessen Horowitz, Apollo credit funds, funds and 
accounts managed by BlackRock, Blockchain Capital, Delta Blockchain Fund, Elad 
Gil, GIC, GoldenTree Asset Management, Innovius Capital, Kraken, Lux Capital, 
PayPal Ventures, Senator Investment Group, Standard Investments, Thoma Bravo, 
and Wellington Management. This funding round values Anchorage at over $3 
billion. 

"As more and more institutions look to add crypto services into their 
offerings, we find ourselves at an inflection point," said Diogo Mónica, 
President and Co-Founder of Anchorage Digital, "This funding positions 
Anchorage Digital to meet the unprecedented institutional demand for this 
rapidly evolving market. We're grateful that KKR and this wider group of 
investors shares our vision to expand regulated institutional access to digital 
assets."  

The first crypto-native company to receive a banking charter from the Office of 
the Comptroller (OCC) in January 2021, Anchorage is making it safe and 
accessible for institutions to participate in the rapidly evolving digital 
asset space. Anchorage began as a custodian and has built a robust suite of 
additional services such as secure trading, financing, staking, and governance. 

Anchorage Digital plans to use this latest funding to enhance its 
infrastructure solutions, specifically for global financial firms and fintech 
innovators. It will also invest to accelerate and simplify clients' engagement 
with the latest in crypto innovation and increase the size of its team to 
continue to expand product offerings and grow its client base. 

KKR is investing in Anchorage through its Next Generation Technology Growth 
Fund II, a fund dedicated to growth equity investment opportunities in the 
technology space. This will be the firm's first direct equity investment in a 
digital asset company. 

"As a pioneer in enabling institutional investors to access digital assets, 
Anchorage has built a best in class, institutional grade digital asset platform 
that combines the best practices of both modern security and usability," said 
Ben Pederson, Senior Leader on KKR’s Technology Growth Equity team. "We are 
thrilled to lead this Series D round and work with Diogo, Nathan and their 
talented team as they continue to support the institutional adoption of digital 
assets through their differentiated, regulated and integrated suite of 
solutions."

"We are certain Anchorage will be a crucial part of the digital asset 
infrastructure and we are excited to be an investor," said Oli Harris, Head of 
North America Digital Assets at Goldman Sachs.

Anchorage's Series D funding follows a dynamic year of growth. Significant 
milestones include: 

   -- Receiving a federal banking charter from the OCC 
   -- Announcing an $80 million Series C round that was led by GIC and included
      Andreessen Horowitz, Blockchain Capital, Lux Capital, and Indico 
   -- Facilitating Visa's purchase of one of the most popular series of NFTs,
      Cryptopunk #7610 
   -- Growing headcount by 175% to date in 2021 
   -- Business growth in excess of 800% for each of the past two years.

About Anchorage Digital

Anchorage Digital is the most advanced digital asset platform for investors. 
From custody and trading to staking, governance, and financing, Anchorage 
offers a full range of crypto-native financial solutions that are compliant, 
built to adapt to emerging blockchain use cases, and made to evolve alongside 
the needs of digital asset investors. Today, Anchorage serves many of the 
largest institutional investors and enterprise brands in the digital asset 
space.

Anchorage Digital Bank makes it simple and secure for institutions to gain 
exposure to digital assets as the first federally chartered digital asset bank. 
With secure custody at its core, Anchorage is the premier partner for 
institutions and corporations. Anchorage offers financial solutions for today 
and tomorrow. To learn more, please visit anchorage.com and on Twitter 
@Anchorage.

About KKR
KKR is a leading global investment firm that offers alternative asset 
management and capital markets and insurance solutions. KKR aims to generate 
attractive investment returns by following a patient and disciplined investment 
approach, employing world-class people and supporting growth in its portfolio 
companies and communities. KKR sponsors investment funds that invest in private 
equity, credit and real assets and has strategic partners that manage hedge 
funds. KKR's insurance subsidiaries offer retirement, life and reinsurance 
products under the management of The Global Atlantic Financial Group. 
References to KKR's investments may include the activities of its sponsored 
funds and insurance subsidiaries. For additional information about KKR & Co. 
Inc. (NYSE: KKR), please visit KKR's website at www.kkr.com and on Twitter 
@KKR_Co.

Media Contacts: 

Anchorage: 
Lexi Wangler
anchorage@dittopr.co

KKR: 

Julia Kosygina or Miles Radcliffe-Trenner
(212) 750-8300
media@kkr.com

Disclaimer 

This press release is intended for informational purposes only. It is not to be 
construed as and does not constitute an offer to sell or a solicitation of an 
offer to purchase any securities in Anchor Labs, Inc., or any of its 
subsidiaries, and should not be relied upon to make any investment decisions. 
Furthermore, nothing within this announcement is intended to provide tax, 
legal, or investment advice and its contents should not be construed as a 
recommendation to buy, sell, or hold any security or digital asset or to engage 
in any transaction therein.

SOURCE: Anchorage Digital