Singapore $100 Billion Fund Helped Coinbase to Raise $300M
Singapore's state fund GIC, which manages over $100 billion of assets, helped Coinbase raise $300 million in investments last year.
In October last year, the US crypto exchange Coinbase closed another round of investments. At that moment the company managed to raise $300 million from such companies as Tiger Global Management, Wellington Management and from private crypto investor Andreessen Horowitz.
Thanks to this deal, the Coinbase valuation reached $8 billion and the company became one of the most valuable startups in the world.
According to Bloomberg, Singapore’s state fund GIC also invested in Coinbase. Representatives of the fund, as well as Coinbase, declined to comment on this matter.
- GIC manages various assets worth $100 billion in 40 countries.