Valor Equity Partners Takes a Bet on Unchained Capital
Posted on 04/22/2023
On April 11, 2023, Austin-Texas based Unchained Capital, Inc. raised US$ 60 million in a Series B round led by Chicago-based Valor Equity Partners, a growth equity firm. Unchained is a provider of financial services for bitcoin holders. Other investors in the round include New York Digital Investment Group (NYDIG), Trammell Venture Partners, Ecliptic Capital, and Highland Capital Partners. Vivek Pattipati, a Partner at Valor Equity Partners, will join Unchained’s board of directors. Unchained Capital is not a bank.
In the Fall of 2022, Ten31 led a U$ 15 million financing round in Unchained.
Dhruv Bansal and Joseph Kelly co-founded Unchained in 2016. Kelly and Bansal were Co-Founders of Infochimps which sold to CSC in 2013. Unchained originally started as a Bitcoin custodial firm where users’ cryptocurrency was kept in “cold storage” – a hard drive not connected to the internet.
NYDIG is a unit of Stone Ridge Holdings.
