Participated · Debt Financing · Mar 2025

Crusoe Energy Systems develops and operates vertically integrated, energy-sourced data centers optimized for artificial-intelligence computing. Its flagship offering, Crusoe Cloud, provides high-performance GPU resources to customers such as Cursor, Decart, Fireworks, Odyssey and Together AI. The company combines rapid energy sourcing, proprietary data-center design, and a managed AI cloud platform to deliver lower-cost and lower-emission compute. To expand service breadth, Crusoe recently acquired Atero, a GPU management and memory-optimization firm, accelerating its managed AI services roadmap. Geographic expansion is underway: the firm is adding capacity in Norway and Iceland and has opened offices in Dublin, Sunnyvale, and Tel Aviv. Major build-outs include a 1.2-gigawatt data-center campus in Abilene, Texas, and a newly announced 1.8-gigawatt campus in Wyoming, with additional multi-gigawatt sites planned across the U.S. Following its latest financing, the company’s valuation is expected to exceed $10 billion, underscoring strong investor confidence in its growth trajectory.

Led · Equity · Mar 2021

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.

Participated · Series F · Apr 2017

Zeta Global builds a data-driven marketing platform that combines companies' first-party data with AI and an identity graph of more than 2.4 billion customer identifiers to personalize messages and offers. The company emphasizes use of predictive AI and identity-based data to help marketers engage customers across the digital ecosystem. Zeta has used prior financing to make acquisitions and integrations, including Disqus and Boomtrain, and the team says it continues to "organically innovate." Leadership frames recent market trends as a "five-year acceleration" toward data-centric digital transformation. Current plans highlighted by management include continued focus on the customer data platform and connected TV capabilities. The firm has previously used both equity and debt financing as part of its capital strategy. Zeta Global is a marketing tech company that brings data analysis to CRM and multi-channel marketing across both in-store and e-commerce channels. Its product portfolio spans CRM services and multi-channel marketing solutions, and its enterprise customers include Sprint, UPS, IKEA, American Airlines, British Airways, PayPal and the NFL. The company has grown through acquisitions, including eBay’s enterprise arm and Acxiom Impact, and plans further acquisitions and investments in its technology. Zeta is profitable and has a history of tapping the debt market to finance acquisitions, typically making about one acquisition per year. After the latest round its total funding exceeds $250 million and the company’s valuation is reported at about $1.3 billion. CEO David Steinberg is monitoring the IPO market and says Zeta could pursue an IPO if conditions are strong, or use cash to buy undervalued companies if markets weaken. Zeta Interactive operates a big-data marketing platform that combines marketing automation, email and social tools with analytics and machine-learning capabilities. The company says it has over 570 enterprise customers and is valued at over $1 billion. Zeta reported being "very profitable" and doing over $300 million a year in revenue, growing 75% since its last equity round. Leadership emphasizes integrating acquisitions rather than running them as separate divisions. Recent acquisition activity includes the CRM division of eBay Enterprise, ClickSquared and a machine-learning-focused division of Adchemy. Future plans include more machine-learning capabilities, additional marketing display technologies, further acquisitions and an eventual IPO within a year or two. Zeta Interactive offers a suite of data-driven marketing solutions—Data, Email, Social, Display, Search and Mobile—powered by big data, analytics and machine learning to help brands acquire, grow and retain customers. The company serves hundreds of Middle Market and Fortune 500 brands and has grown through acquisitions, including marketing automation platform ClickSquared and the Actions division of Adchemy with its patented machine learning platform. Zeta employs over 600 people worldwide with offices in NYC, Silicon Valley, London, Hyderabad and several additional U.S. and UK locations. Founded in 2007 by David A. Steinberg and John Sculley, the company intends to use new financing to enhance and expand its platform, increase market penetration in the U.S. and U.K., and accelerate a strategic acquisition strategy. The recent financing provides additional capital to support product development and growth initiatives. No revenue or user metrics were disclosed in the article.