ConsenSys Raises $450 Million in a Series D Funding Round

Microsoft, Temasek, and SoftBank Vision Fund 2 joined them as new investors.

ConsenSys' legal advisor was Sullivan & Cromwell LLP.

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New investors joined them, including Temasek, SoftBank Vision Fund 2, Microsoft, Anthos Capital, Sound Ventures, and C Ventures. The United Talent Agency‘s venture fund, UTA VC, and Third Point also participated in this round of funding. In this transaction, Sullivan & Cromwell LLP acted as ConsenSys’ legal advisor.

“I think of ConsenSys as a broad and deep capabilities machine for the decentralized protocols ecosystem, able to rapidly capitalize at scale on fundamental new constructs that emerge, such as developer tooling, tokenization, token launches, wallets, security audits, DeFi (1.0, 2.0 and beyond), NFTs, bridges, Layer-2 scaling, DAOs, and more. This view has resonated with our crypto native and growth investors in a Series D that will enable us to execute powerful growth strategies,” Joseph Lubin, Founder and CEO of ConsenSys, commented.

According to ConsenSys‘ treasury strategy, the proceeds from this round will be converted to ETH in order to rebalance the ratio of ETH to USD equivalents. They added to ConsenSys’ “ultra sound money” position in advance of Ethereums merger to Proof of Stake.

A significant amount of Ethereum, stablecoins, and other crypto assets have been accumulated by ConsenSys over the years, which is actively investing them in DeFi protocols and via staking using its own financial infrastructures, such as MetaMask Institutional and Codefi Staking.

MyCrypto Acquisition

Recently, ConsenSys announced the acquisition of MyCrypto, a market-leading Web3 wallet. Following the acquisition, ConsenSys will combine MyCrypto with its popular MetaMask wallet.

MetaMask and MyCrypto will integrate their efforts under a shared brand to enhance the security of all their products and build a cohesive user experience across browser, extension, mobile and desktop wallets.