Crypto Unicorn Anchorage Digital Establishes Venture Capital Arm to Support Early-Stage On-Chain Protocols

BlockBeats News, August 25th. According to The Block, cryptocurrency custody unicorn company Anchorage Digital was valued at over $30 billion in its 2021 Series D funding round. Due to the ongoing downturn in wider cryptocurrency funding, the company has established a venture capital department to support early-stage protocol teams.

The department is named Anchorage Digital Ventures and will provide funding and strategic support to founding teams building on-chain infrastructure. Anchorage stated that the plan is designed to help protocols "be institution-ready from day one" and provide support beyond financial investment.