Despite the recent market downturns and volatility for crypto assets, FalconX is still seeing demand from investors. The digital asset platform and crypto brokerage firm, which caters to institutional clients, has doubled its valuation since last year. It recently raised $150 million in a Series D funding round, which brings its total to $650 million. The round was led by Singaporean sovereign wealth fund GIC and B Capital, with participation from Thoma Bravo, Wellington Management and Adams Street Partners, as well as previous investor Tiger Global Management.

The company provides what's known as prime brokerage services, which simplify trading, credit and clearing for multiple markets at once. Those services are used by companies like hedge funds, asset managers and exchanges. According to Bloomberg, FalconX has seen "significant" growth in its business over the past few months, as institutional activity in cryptocurrency markets continues to rise.

FalconX is a CFTC-registered exchange and a member of the National Futures Association. It offers a range of crypto-focused financial products, including spot and derivatives trades. It also provides liquidity provision and margin financing to its customers.

The new funding will help FalconX Valuation add new features to its existing product offerings, expand its distribution channels and hire more employees. Yarlagadda says the company has already begun hiring for positions in its data analytics, engineering and sales departments. He adds that the company is a "one-stop shop" for institutional crypto trading and will continue to focus on delivering that service.

It's interesting that a number of capital shops put money into FalconX even as the overall venture landscape has been cooling off, which shows that there is still niche and mainstream venture interest in at least some blockchain-focused companies. FalconX counts Fidelity-affiliated Avon Ventures and corporate venture firm Coinbase Ventures among its investors.

The new $150 million will be used for investing in the company's products and technology, acquiring additional companies that fit its product portfolio, as well as expanding its distribution channels. Yarlagadda tells TechCheck that the new funding isn't intended to provide a return for investors, but rather to give the company enough capital to sustain its growth as it moves into 2023 and beyond.

Despite the recent market downturns and volatility for crypto assets, FalconX is still seeing demand from investors. The digital asset platform and crypto brokerage firm, which caters to institutional clients, has doubled its valuation since last year. It recently raised $150 million in a Series D funding round, which brings its total to $650 million. The round was led by Singaporean sovereign wealth fund GIC and B Capital, with participation from Thoma Bravo, Wellington Management and Adams Street Partners, as well as previous investor Tiger Global Management.

The company provides what's known as prime brokerage services, which simplify trading, credit and clearing for multiple markets at once. Those services are used by companies like hedge funds, asset managers and exchanges. According to Bloomberg, FalconX has seen "significant" growth in its business over the past few months, as institutional activity in cryptocurrency markets continues to rise.

FalconX is a CFTC-registered exchange and a member of the National Futures Association. It offers a range of crypto-focused financial products, including spot and derivatives trades. It also provides liquidity provision and margin financing to its customers.

The new funding will help FalconX Valuation add new features to its existing product offerings, expand its distribution channels and hire more employees. Yarlagadda says the company has already begun hiring for positions in its data analytics, engineering and sales departments. He adds that the company is a "one-stop shop" for institutional crypto trading and will continue to focus on delivering that service.

It's interesting that a number of capital shops put money into FalconX even as the overall venture landscape has been cooling off, which shows that there is still niche and mainstream venture interest in at least some blockchain-focused companies. FalconX counts Fidelity-affiliated Avon Ventures and corporate venture firm Coinbase Ventures among its investors.

The new $150 million will be used for investing in the company's products and technology, acquiring additional companies that fit its product portfolio, as well as expanding its distribution channels. Yarlagadda tells TechCheck that the new funding isn't intended to provide a return for investors, but rather to give the company enough capital to sustain its growth as it moves into 2023 and beyond.