Luno parent firm DCG raises $700m from syndicate of investors
Digital Currency Group closes secondary funding round from syndicate including SoftBank fund and Alphabet’s Capital G
Digital Currency Group (DCG), which owns SA-linked crypto platform Luno, has raised more than $700m from a syndicate of investors including SoftBank and Capital G, the stand-alone growth fund of Google’s parent company, Alphabet.
New York-based DCG, which acquired Luno in 2020 from investors that included Naspers and Rand Merchant Investment Holdings (RMI), closed a secondary funding round from a syndicate of investors led by SoftBank’s Vision Fund II and its Latin American Fund, according to an emailed statement on Tuesday. Other investors include Capital G, Ribbit Capital, GIC, Tribe Capital and Emory University, which together invested more than $700m in exchange for DCG stock held by prior investors...