Temasek Holdings Invests in Ethereum Infrastructure Company ConsenSys
Posted on 03/16/2022
ConsenSys is a New York-based Ethereum infrastructure startup (blockchain software technology company). ConsenSys announced the close of a US$ 450 million financing round, bringing its valuation to over US$ 7 billion. ParaFi Capital led this raise after participating in ConsenSys’ Series C round in November 2021. They were joined by new investors, including Temasek Holdings, SoftBank Vision Fund 2, Microsoft Corporation, Anthos Capital, Sound Ventures, and C Ventures. Series C investors — Third Point, Marshall Wace, TRUE Capital Management, and UTA VC, United Talent Agency’s venture fund — also participated in this round. Sullivan & Cromwell LLP acted as ConsenSys’ legal advisor in this transaction.
Proceeds
The proceeds from the round will be converted to ETH to rebalance the ratio of ETH to USD-equivalents in line with ConsenSys’ treasury strategy. This further builds ConsenSys’ “ultra sound money” position in advance of Ethereum’s upcoming merge to Proof of Stake. ConsenSys has long maintained a significant treasury of ETH, stablecoins and other crypto tokens, and is actively using its own financial infrastructure, such as MetaMask Institutional and Codefi Staking, to put these assets to work in DeFi protocols and via staking.
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