All information about Digital Currency Group (DCG)

Established in 2015, Digital Currency Group (DCG) is a large and well-known investment fund in the cryptocurrency market. The fund has supported numerous successful projects. What exactly is Digital Currency Group? What sectors have they invested in? Explore with Market247.io in the article below.

What is a Digital Currency Group (DCG)?

Digital Currency Group (DCG) is an investment fund founded in 2015 by Barry Silbert with the mission to support and accelerate the development of a new financial system on blockchain, by building and supporting startups in the field of cryptocurrency and blockchain.

Up to this point, DCG has invested in over 150 potential projects across a range of industries. DCG has a wide-ranging scope and is run by Grayscale, who has a specific mission to invest in cryptocurrencies. DCG is the parent company of several of the top cryptocurrency companies operating today, including the news site CoinDesk, the brokerage Genesis, the exchange Luno, and the consultancy firm Foundry.

DCG's Team

The DCG leadership team includes:

Barry Silbert (Founder & CEO): A pioneer in the field of Crypto investment. After selling Restricted Stock Partners (later renamed SecondMarket) to NASDAQ in 2015, he founded DCG.
Mark Murphy (COO): Currently Chairman of the Board of Directors of Blockchain Association - the leading trade association in the industry. Before joining DCG, Mark led the communications team at Bloomberg, First Data and SecondMarket.
Michael Kraines (CFO): Prior to joining DCG, Michael served as President and CFO at Trading Technologies. Prior to that, he spent more than two decades in investment banking, focusing on the financial technology sector as CEO at Sandler O'Neill and Partners and Wasserstein Perella.

Portfolio of Digital Currency Group

The portfolio of Digital Currency Group (DCG) is extremely diversified with all areas that are trending in today's technology.

Infrastructure project

Trust Machine: In February 2022, Trust Machine, the project built to bring Bitcoin to Web3, completed a successful $150 million seed round. The project has the participation of funds such as DCG, Breyer Capital, Goldentree, ..
The Graph: A data indexing application invested by DCG in early 2020, with participation from Framework, ParaFi Capital, Coinbase Ventures, and Digital Currency Group, CoinIX, Tally Capital, Multicoin Capital, DTC Capital.
Magic: July 2021, Magic successfully raised $27 million in Series A round led by NorthZone, with the participation of DCG, Tiger Global, CoinFund,...
NYM Techonologies: A security infrastructure project, using its own technology, NYM Mixnet and Nym Credentials. In November 2021, a16z led NYM's Series A round, successfully bringing in $13 million with the participation of DCG, Huobi Ventures, Hashkey,...
Flare: A project that makes it possible for blockchains to adopt new Smart Contracts. This is the first project with Turing-complete FBA network technology, simply understood as a Turing engine, helping to unlock the potential of many Dapps across blockchains. In June 2021, Flare completed a funding round with $11.3 million, with participation from DCG Fund and many others.
RAILGUN: A Smart Contract project, with a primary focus on developing security on the Ethereum blockchain. In January 2022, the DCG Foundation announced a partnership with RAILGUN and staked $10 million in the project's RAIL token.

NFT/Gaming/Metaverse

Metaversal: In January 2022, CoinFund and Foxhaven led a Series A funding round, bringing in $50 million for Metaversal, which also included DCG, Collab+Currency, Dapper Labs, and more.
Horizon Blockchain Games: The project has successfully raised capital twice, totaling $8.8 million. The two investment rounds were led by Initialized Capital, alongside Polychain Capital Funds, ConsenSys, Golden Ventures, Digital Currency Group, CMT Digital, and Regah Ventures.
SPACE: A metaverse focusing mainly on commercial and media fields. In December 2021. SPACE successfully raised $7 million right in the seed round, with the participation of Dapper Labs, DCG, CoinFund
WilderWorld: In May 2021, WilderWorld completed a funding round led by Spartan Group, Dapper Labs, Animoca Brands and DCG also participated in this round.
Decentraland: The pixelated virtual world has stormed the market in recent times, many famous stars have spent hundreds to millions of dollars to buy a piece of virtual land. DCG invested in Decentraland in January 2020. The specific amount was not announced by DCG and Decentraland.
Livepeer: The leading project in decentralized streaming. DCG clearly shows its interest in this project when participating in all 3 rounds of Livepeer's funding from 2019-2022. All 3 rounds brought Livepeer $48 million to raise capital.

It can be said that this is the area that the fund is particularly interested in. DCG is also one of the funds with a vision of the Metaverse field since it poured capital into Decentraland in 2020, when the concept of Metaverse was not really popular.

CEX, DEX, AMM and Derivatives exchanges

BitOasis: A centralized crypto exchange dedicated to the MENA market. In October 2021, BitOasis completed a Series B funding round with $30 million, led by Jump Capital of the US and Wamda Capital of the MENA region, accompanied by Alameda Research, DCG, Pantera Capital and several Funds other.
ErisX: The CEX exchange was officially recognized by the CFTC (Commodity Futures Trading Commission) in July 2019. In August 2018, DCG partnered with Nasdaq Ventures, ConsenSys in the exchange's series B funding round, bringing in $27 million for Eris X.
Tagomi: Centralized exchange, acquired by Coinbase in 2020. Previously, Tagomi also had a seed round in May 2020 with $ 16 million, a funding round with the participation of DCG, SV Angel, Tectonic Capital and some other Funds.
C3 Protocol: Decentralized derivative, spot, cross-chain exchange. In November 2021, C3 completed a seed round, bringing in $3.6 million, a funding round with the participation of DCG, ParaFi Capital, Mechanism Capital, Borderless Capital, etc.
Slingshot: DEX founded by Concourse Open Community. In October 2020, Slingshot successfully raised $3.1 million in a seed round, led by Framework Ventures, accompanied by Electric Capital, IDEO CoLab, Coinbase Ventures, DCG and many other large funds.
Tinyman: Algorand blockchain AMM DEX. In October 2021, Tinyman successfully raised $2.5 million in seed rounds from 20 different Funds, notably DCG, Borderless Capital, Arrington Capital and The LAO.
Major DEXs in the market are invested by DCG: Coinbase, FTX, Kraken, Coinhouse,...

DeFi Lending and Liquidity Project

Hubble Protocol: A debt protocol application on Solana that generates stablecoins on Solana through an overstaking mechanism. The project raised a $8.8 million seed round from many funds including DCG from January 2022.
Ondo Finance: The project calls for a $4 million seed round from many funds including DCG from August 2021.

It can be seen that this is a relatively new segment in the crypto market. Therefore, the number of projects that DCG invests in is quite small compared to other fields.

Blockchain/Layer 1

Polygon: A blockchain with a scaling solution for Ethereum. Recently, in February 2022, Polygon completed a fundraising of over $450 million through the MATIC token sale. The round was led by Sequoia Capital, along with SoftBank, DCG, Republic Capital and a series of other large funds.
Ripple: In December 2019, Ripple completed a Series C funding round with the participation of more than 60 large and small Funds, including DCG Fund, the funding round ended and brought $200 M to Ripple.
Acala Network: A parachain on Polkadot invested by DCG, however it is not clear which funding round DCG participated in.
Octopus Network: A blockchain network on Near invested by DCG, invested by DCG from the seed round.

Evaluate the Digital Currency Group's investment portfolio.

Looking at DCG's portfolio, we can see some characteristics of Digital Currency Group's investment style as follows:
DCG invests in all segments of the market, and there doesn't seem to be one area where they are strong. From new segments to old segments of the market, they are present in a few applications and a few deals.
DCG invests heavily in the infrastructure segment, with many different infrastructure applications: labs, applications, infrastructure solution implementation companies, ...
DCG is not only an investment fund, but they also have a very strong product ecosystem, such as Grayscale, CoinDesk, Genesis Trading to support the projects they invest in, as well as provide resources. other profits for the project.
DCG does not focus on a specific chain, but invests in many blockchains with deals spanning many areas on those blockchains.

Conclusion

Above is the overview information, portfolio, and the evaluation portfolio of the Digital Currency Group fund. Market247.io hopes this article has provided you with useful knowledge. Thanks for reading.

More information about Digital Currency Group - FAQs

What does Digital Currency Group do?

Digital Currency Group builds and supports bitcoin and blockchain companies by leveraging insights, network, and access to capital. Based in Stamford, Connecticut, DCG has been an active seed investor in the digital currency industry with 150+ investments in over 30 countries.

Who owns DCG?

Barry Silbert is the founder and CEO of Digital Currency Group (DCG), a conglomerate of five cryptocurrency-focused companies.

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