The article identifies New York Digital Investment Group LLC as an investment group that completed a major financing event. The article does not describe the company’s core product or specific business lines. On December 14, 2021 the company raised $1 billion in an equity round led by WestCap Management, LLC. The transaction included participation from Deer Management Company, LLC; FinTech Collective, Inc.; Affirm Holdings, Inc.; Fidelity National Information Services, Inc.; Fiserv, Inc.; Massachusetts Mutual Life Insurance Company; Morgan Stanley & Co. LLC, Investment Arm; and New York Life Insurance Company. The round was raised at a post-money valuation of $7 billion. The article does not provide revenue, user metrics, or detailed future plans. Nydig is a New York City–based provider of technology and investment solutions for Bitcoin. It provides Bitcoin investment and technology solutions to insurers, banks, corporations, institutions, and high-net-worth individuals. The company operates an institutional custody platform that it says facilitates and holds more than $1 billion of direct and indirect bitcoin exposure owned by insurers. Nydig raised $200m in growth funding and intends to use the proceeds to expand its business reach. Leadership includes co-founder and CEO Robert Gutmann and founder and Executive Chairman Ross Stevens. NYDIG provides institutional investment, brokerage, treasury, and technology solutions for Bitcoin, including insured custody, execution, asset management, financing, and AML/KYC services. Its core product is a secure, audited, and insured custody platform that holds client Bitcoin positions and underpins bespoke white‑label implementations for large financial institutions. The firm is accelerating its white‑label business segment to deliver custody, execution, financing, and compliance capabilities to banks and institutional clients. NYDIG reports over $2.3 billion of digital asset balances under custody and recently facilitated a $100 million Bitcoin purchase for a major insurer. That insurer, Massachusetts Mutual Life Insurance Company (MassMutual), also made a $5 million minority equity investment in NYDIG. Founded in 2017 as the digital-asset subsidiary of Stone Ridge Holdings Group, NYDIG's subsidiaries hold a BitLicense and a limited-purpose trust charter. NYDIG provides investment, brokerage, treasury, and technology solutions for Bitcoin and other digital assets to institutional allocators, corporations, banks, investment advisers, and high-net-worth individuals. The firm offers insured custody, execution, asset management, financing, AML/KYC, and partners with banks and philanthropies to deliver these capabilities to their customers and donors. NYDIG reports that its custody, asset management, and financing balances exceed $1 billion in aggregate and that its client base quadrupled this year. Founded in 2017 as the digital-asset subsidiary of Stone Ridge, NYDIG operates under regulatory frameworks with subsidiaries holding a BitLicense and a limited-purpose trust charter from the New York State Department of Financial Services. The company executed and custodied a parent-company purchase of more than 10,000 BTC (over $100M) as part of Stone Ridge Holdings Group’s treasury reserve strategy. Management says demand for corporate treasury and institutional Bitcoin solutions is accelerating and the firm intends to expand those offerings.

Total raised

$1.3B

Funding rounds

4

Latest round

Equity

Latest activity

Dec 2021