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Announced

Completed

7RIDGE and Eldridge led a $120m Series D round in Digital Asset.

Financials

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Transaction Value£86m
Consideration TypeCash
Capital Owned-
Capital Bid For-
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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Domestic

Completed

Acquisition

Single Bidder

Private Equity

Venture Capital

blockchain

FinTech

United States

Private

Minority

Friendly

Synopsis

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Investment companies 7RIDGE and Eldridge led a $120m Series D round in Digital Asset, the creators of the Daml multi-party application platform. "In 2020, Digital Asset tripled its customer base, with 50% of new business coming from non-blockchain deployments. We saw significant demand for Daml to solve internal challenges of data silos within an organization. As a result, we expanded our product portfolio to support 10 different underlying ledgers, including traditional databases," Emnet Rios, Digital Asset CFO and COO.

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