Digital Asset Acquisition, Valuation, Funding & Investors
Digital Asset was acquired by TLG Capital Management in June 2021.
Digital Asset acquisition price
Undisclosed
Acquired by TLG Capital Management · Jun 2021
Cumulative funding Digital Asset raised
$847M
across 9 funding rounds
Key investors in Digital Asset
Broadridge
S&P Global
ABN AMRO Fund
iCapital Network
ASX
Salesforce Ventures
Accenture
a16z crypto
About Digital Asset
Digital Asset is a New York-headquartered technology provider developing Daml, a smart contract platform that enables multi-party applications across organizational boundaries in financial services, healthcare, and insurance sectors. The company serves clients including five of the world's top 10 stock exchanges such as the Australian Securities Exchange and Deutsche Börse, alongside partners like Broadridge Financial Solutions. Daml integrates with existing infrastructure to synchronize data flows, eliminate silos, and reduce processing errors through encrypted distributed ledgers. Founded in 2014, Digital Asset supports global enterprises in building secure, scalable blockchain solutions.
Founded
2014
HQ
New York City, NYWebsite
Status
Acquired
Customer focus
B2B
Revenue model
Licensing
Valuation
$2B (Jun 2026)
Digital Asset Acquisition
Digital Asset was acquired by TLG Capital Management for an undisclosed price on 1 June 2021.
Before the acquisition Digital Asset had raised $847M across 9 funding rounds.
| Acquirer | Date | Type |
|---|---|---|
| 1 Jun 2021 | PE buyout |
Digital Asset Valuation
Digital Asset is currently valued at $2B, based on its Series E in June 2026.
The $355M round was led by a16z crypto, with participation from GreenWulf, CME Ventures, R136 Ventures, SoFi, SBI Holdings and 6 other investors.
Digital Asset's valuation has grown 6.7x from $298M at its Series A in June 2016 to $2B in June 2026, across 2 priced rounds.
Digital Asset valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Jun 2026 | Series E | $2B |
| Jun 2016 | Series A | $298M |
Digital Asset Funding History
Digital Asset has raised a total of $847M across 9 funding rounds.
Digital Asset's first fundraising round was a $60M undisclosed-stage round in February 2016. The most recent completed round was a $355M Series E in June 2026.
Digital Asset funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Jun 2026 | Series E | a16z crypto (lead); GreenWulf; CME Ventures; R136 Ventures; SoFi; SBI Holdings; Liberty City Ventures; S&P Global; iCapital Network; Alumni Ventures; Broadridge; ABN AMRO Fund | $355M | $2B | Digital Asset raised **$355 million** on June 11, 2026, in a funding round led by a16z crypto, with **ABN Amro** among the participating investors. The round was positioned to support the adoption of Canton across regulated financial markets and Digital Asset’s next phase of growth as more institutions bring assets, applications, and regulated workflows onto the platform. The investor group included a broad mix of traditional finance and crypto-aligned firms such as 7RIDGE, the Abu Dhabi Investment Authority, Apollo Funds, BNP Paribas, Broadridge, Citadel Securities, CME Ventures, Coinbase Ventures, HSBC, iCapital, Liberty City Ventures, Optiver, Polychain, S&P Global, SBI Group, SoFi, Tradeweb, and William Blair. Financial Technology Partners served as exclusive strategic and financial advisor to Digital Asset on the transaction. Digital Asset is a New York-based blockchain infrastructure company and the creator of Canton. The company said the new capital would help expand its platform’s reach among global financial institutions and accelerate Canton’s role as onchain infrastructure for capital markets. |
| Dec 2025 | Strategic investment | BNY Mellon; Nasdaq; S&P Global; iCapital Network | $50M | - | Digital Asset Holdings LLC raised $50 million in a new funding round announced on December 4, 2025, with investments from BNY Mellon, iCapital Network, Nasdaq, and S&P Global. This follows an earlier $135 million round led by DRW Venture Capital and Tradeweb Markets, including Citadel Securities and Optiver. The company develops the Canton Network, a public, permissionless Layer-1 blockchain designed for asset tokenization and financial transactions, featuring configurable privacy, institutional-grade compliance, and support for hundreds of billions in onchain real-world assets. Major institutions like Goldman Sachs and Tradeweb Markets have adopted the network. The strategic investments underscore growing institutional alignment with Canton as critical financial market infrastructure, combining decentralization with privacy, legal certainty, and regulatory compliance for global markets. Digital Asset, founded in 2014, focuses on reshaping finance through real-time efficiencies, 24/7 transactions, and bridging decentralized and traditional finance. CEO Yuval Rooz highlighted the necessity of blockchain for regulated markets, while Nasdaq President Tal Cohen emphasized modernizing post-trade workflows and accelerating tokenized solutions. The funding builds momentum for Canton Network's role in interoperable, privacy-enabled markets at global scale, with partners spanning asset servicing, wealth management, market infrastructure, financial data, fintech, and digital asset trading. |
| Jun 2025 | Series E | DRW Venture Capital (lead); Tradeweb Markets (lead) | $135M | - | Digital Asset, founded in 2014, develops blockchain technology focused on privacy-enabled financial infrastructure, notably the Canton Network, a public permissionless Layer-1 blockchain designed for institutional-grade compliance, configurable privacy, and scalability in tokenizing real-world assets (RWAs). The company announced a $135 million strategic funding round on June 24, 2025, led by DRW Venture Capital and Tradeweb Markets, with participants including BNP Paribas, Circle Ventures, Citadel Securities, DTCC, Goldman Sachs, IMC, Liberty City Ventures, Optiver, Paxos, Polychain Capital, QCP, Republic Digital, 7RIDGE, Virtu Financial, and later YZi Labs. The round aims to accelerate adoption of the Canton Network by expanding integration of hundreds of billions in RWAs, such as bonds, money market funds, alternative funds, commodities, repos, mortgages, life insurance, and annuities. As of June 2025, the Canton Network supported tokenized RWAs with trillions in total value locked (TVL), including over $1.5 trillion in monthly tokenized U.S. Treasury repo activity, and had grown to nearly 400 participants from traditional and decentralized finance sectors. Leaders like DRW CEO Don Wilson highlighted the funding's role in scaling blockchain for traditional markets and establishing Canton as the protocol for global collateral mobility, while Tradeweb CEO Billy Hult emphasized its practical utility for financial market efficiencies. The investment underscores convergence between traditional finance and crypto-native players to enable real-time efficiencies, 24/7 transactions, and RWA tokenization at scale. Funds will support infrastructure expansion, faster onboarding of institutions, enhanced composability and interoperability, live deployments from major players over the next 12-18 months, and entry into new global markets. Canton positions itself against broader DLT efforts by prioritizing privacy and compliance for regulated environments. |
| Apr 2021 | Series D | 7RIDGE (lead); Eldridge Industries (lead) | $120M | - | Digital Asset is the creator of the Daml multi-party application platform, which enables organizations to transform disparate data silos into synchronized networks. The platform eliminates latency and errors by guaranteeing consistent data across systems. Digital Asset's customer base includes major financial institutions and exchanges such as the Australian Securities Exchange, BNP Paribas, Broadridge, Change Healthcare, and Hong Kong Exchanges and Clearing, with applications across financial services, healthcare, and insurance sectors. In April 2021, Digital Asset closed a Series D funding round raising $120 million led by 7RIDGE and Eldridge Industries. This round followed a $45 million Series C in 2020 that included participation from technology giants Salesforce, Samsung Ventures, and VMware. The company is backed by strategic investors including Accenture, Citi, Goldman Sachs, IBM, and J.P. Morgan. With the Series D capital, Digital Asset planned to expand its global team by 50% and enhance product offerings, including a new interoperability protocol. The post-money valuation, revenue, and EBITDA figures for this round were not publicly disclosed by the company or reported in available financial news sources. |
| Feb 2020 | Series C | Salesforce Ventures; VMware; Samsung Venture Investment | $45M | - | Digital Asset is an enterprise blockchain firm known for its Daml smart contract language and platform, which supports multiple blockchains, distributed ledgers, and conventional databases. The company secured a $45 million Series C funding round in February 2020, with participation from Salesforce Ventures, Samsung Venture Investment Corp, and VMware, following an initial $35 million close in December 2019 from existing investors including ASX, Accenture, Broadridge, Citi, Deutsche Börse, DTCC, JP Morgan, Goldman Sachs, and IBM. Notably, $10 million came from the Australian Stock Exchange (ASX), where Digital Asset's technology underpins the new CHESS settlement system. The round aimed to expand the Daml platform and support strategic projects, building on the open-sourcing of DAML ten months prior, which shifted focus to this interoperable technology. Investors like Salesforce Ventures, focused on enterprise cloud and CRM, Samsung Ventures on technology and semiconductors, and VMware on cloud and virtualization, joined to bolster Digital Asset's position in enterprise DLT. Post-round, Digital Asset progressed to a $120 million Series D in 2021, planning global workforce expansion by 50% and new interoperability protocols, targeting sectors like healthcare and insurance. The company had raised $307.2 million total by May 2022. |
| Dec 2019 | Series C | Accenture; Deutsche Börse; ASX; Citigroup; Goldman Sachs; JPMorgan Chase; Broadridge; DTCC; IBM | $35M | - | Digital Asset, creators of the open-source DAML smart contract language, raised more than $35 million in a Series C funding round on approximately December 11, 2019, from new and existing investors including Accenture, ASX, Broadridge, Citi, Deutsche Borse, DTCC, Goldman Sachs, IBM, and JP Morgan. This brought the company's total funding since its 2014 founding to $150 million. The funds were earmarked to accelerate DAML adoption across industries, expand DAML-enabled partner products, and develop new tools like project:DABL, a cloud-based prototyping and production environment for DAML applications. Digital Asset provides commercial integrations of DAML with platforms such as VMware Blockchain, Hyperledger Sawtooth, Hyperledger Fabric, Corda, and Amazon QLDB and Aurora databases, enabling enterprises and startups to build secure, compliant applications deployable to any ledger. CEO Yuval Rooz emphasized DAML's focus on value-adding development, reducing wasted time on undifferentiated work. CFO and COO Emnet Rios highlighted investor commitment to expanding DAML support and serving a growing client base. |
| Oct 2017 | Series B | Jefferson River Capital (lead); Hamilton James | $40M | - | Digital Asset is a blockchain startup founded in 2014 and led by former J.P. Morgan banker Blythe Masters, focused on developing distributed ledger technology for financial institutions. The company raised $40 million in Series B funding led by Jefferson River Capital, the family office of Tony James (president and COO of Blackstone), bringing total capital raised to $110 million including a prior $60 million round in early 2016 from financial institutions including Goldman Sachs, J.P. Morgan, CME Group, Deutsche Boerse, and Citigroup. The funding was designated for team expansion and product development, with the company operating a 130-person team globally by October 2017. Digital Asset's clientele included major financial infrastructure providers such as the Australian Securities Exchange (ASX) and the Depository Trust & Clearing Corporation, with ASX evaluating the company's technology for replacing its clearing and settlement system in what would have been one of the largest blockchain deployments in financial markets infrastructure. |
| Jun 2016 | Series A | ASX (lead) | $7M | $298M | - |
| Feb 2016 | Undisclosed stage | Goldman Sachs Growth Equity (lead); ABN AMRO Fund (lead) | $60M | - | Digital Asset, founded in 2015, develops blockchain technology for secure straight-through processing in financial services, enabling electronic trading without manual intervention. The company raised $60 million in February 2016 across two tranches: an initial $50 million from 13 financial sector corporations including CME Ventures, ASX, Deutsche Börse Group, ABN Amro, Accenture, Broadridge Financial Solutions, Icap, DTCC, BNP Paribas, Citi, JP Morgan, PNC Financial Services Group, and Santander's InnoVentures unit, followed by an additional $10 million from IBM and Goldman Sachs. The funding was designated to support expansion efforts and increased customer service capabilities. Digital Asset's CEO Blythe Masters stated the investment from Goldman Sachs and IBM would drive global adoption of the technology, while IBM executives emphasized their commitment to jointly developing distributed ledger technologies and strengthening their partnership with the company. |
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Who has invested in Digital Asset?
32 investors have backed Digital Asset across its funding rounds, including Broadridge, S&P Global, ABN AMRO Fund, iCapital Network, ASX and Salesforce Ventures.
Lead investors include a16z crypto, DRW Venture Capital, Tradeweb Markets, 7RIDGE, Eldridge Industries and 4 other investors.
Digital Asset Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
 Sydney | 2 | Lead | Jun 2016 | |
| New York City, NY | 2 | Participant | Dec 2025 | |
| New York City, NY | 2 | Participant | Dec 2025 | |
| New York City, NY | 2 | Participant | Dec 2019 | |
 Netherlands | 2 | Lead | Feb 2016 | |
| New York City, NY | 1 | Participant | Jun 2026 | |
| San Francisco, CA | 1 | Participant | Feb 2020 | |
| Chicago, IL | 1 | Participant | Jun 2026 | |
| Dublin | 1 | Participant | Dec 2019 | |
| United States | 1 | Participant | Dec 2025 | |
| San Francisco, CA | 1 | Lead | Jun 2026 | |
| New York City, NY | 1 | Lead | Jun 2025 | |
 George Town | 1 | Participant | Jun 2026 | |
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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialAcquisitions by Digital Asset
Digital Asset has acquired 4 companies to date.
Last acquisition by Digital Asset was on April 20th 2016. Digital Asset acquired Elevence Digital Finance for undisclosed valuation.
Latest Acquisitions by Digital Asset
| Description | Elevence Digital Finance is a Luxembourg-based fintech developing a domain-specific modeling language for financial contracts. The platform defines rights, obligations, and workflows in derivatives, loans, and insurance products to automate compliance and execution. | Blockstack.io is a hosted blockchain platform for financial institutions developing private applications. It supplies APIs and SDKs built on permissioned networks using open-source and proprietary tech. Features include multi-signature security and external integrations. Digital Asset acquired Blockstack.io in 2015 and it supports capital markets workflows from New York. | Hyper is a commercial supporter of the Hyperledger Value Transfer Protocol for real-time settlement. The platform enables banks to use distributed ledgers for FX, swaps, securities, and correspondent banking without cryptocurrencies or public networks. It collaborates with financial institutions to integrate private shared databases. | Bits of Proof is a Budapest-headquartered technology company that integrates applications with the Bitcoin network. Its products include the BOP Bitcoin Server for modular protocol implementation, BopShop for web and in-person payment processing, and BeBop Android wallet. Launched in 2013, the firm provides enterprise-grade tools for developers building on Bitcoin infrastructure, focusing on scalability and security for financial services in Europe. |
| HQ Country |  | | |  |
| HQ City | Zurich | San Francisco, CA | San Francisco, CA | Budapest |
| Deal Date | 20 Apr 2016 | 29 Oct 2015 | 25 Jun 2015 | 25 Jun 2015 |
| Valuation | undisclosed | undisclosed | undisclosed | undisclosed |
| EV/Revenue | ||||
| EV/EBITDA | ||||
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Investments by Digital Asset
Digital Asset has invested in 1 company to date.
Latest investment by Digital Asset was on April 20th 2026. Digital Asset invested in HQLAx in their Series C round.
Latest Investments by Digital Asset
| Description | HQLAx is a Luxembourg-regulated fintech using DLT for securities finance, enabling real-time collateral transfers between banks and asset managers. Launched in 2017, the platform processes over 100 billion euros daily in repo transactions. HQLAx holds CSSF authorization as a support PFS and integrates with systems like Euroclear. |
| HQ Country |  |
| HQ City | Luxembourg |
| Deal Date | 20 Apr 2026 |
| Round | Series C |
| Raised | undisclosed |
| Investors | Broadridge |
| Valuation | undisclosed |
| EV/Revenue | |
| EV/EBITDA | |
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Digital Asset Competitors
Digital Asset competitors include listed companies like Securitize and Finexity, and private ones like 2TM, Paxos, LayerZero Labs and Anchorage Digital.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
 Brazil | Private | - | - | $2.1B | - | |
| New York City, NY | Private | - | - | $2.4B | - | |
| United States | Publicly listed | $62M | ($34M) | $1.5B | 22.2x | |
 Vancouver | Private | - | - | $3B | - | |
| San Francisco, CA | Private | $85M | - | $4.2B | 49.4x | |
 Germany | Publicly listed | $2M | ($1M) | $49M | 4.6x |
Digital Asset Public Comps
Digital Asset is no longer listed, but its public comps include Sharplink, Tradegate, Tradition, Securitize, Flow Traders, OSL Group, Indian Energy Exchange, Hyperliquid Strategies, HashKey Holdings and BitGo Holdings.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $28M | ($734M) | 61.9x | 39.9x | (2.4x) | 141.1x | |||
| $219M | - | 10.8x | - | - | - | |||
| $1.4B | $249M | 1.7x | 1.6x | 9.2x | 10.2x | |||
| $62M | ($34M) | 25.5x | 22.2x | (46.0x) | (37910.8x) | |||
| $914M | $243M | 7.3x | 11.0x | 27.6x | 27.2x | |||
| $62M | ($48M) | 16.6x | 11.3x | (21.7x) | (23.2x) | |||
| $64M | $63M | 14.1x | 13.3x | 14.3x | 15.7x | |||
| $9M | - | 308.0x | 162.2x | - | - | |||
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Common questions about Digital Asset
| When was Digital Asset founded? | Digital Asset was founded in 2014. |
| Where is Digital Asset headquartered? | Digital Asset is headquartered in New York City, NY, United States. |
| Is Digital Asset publicly listed? | No, Digital Asset was acquired by TLG Capital Management in June 2021. |
| Who acquired Digital Asset? | Digital Asset was acquired by TLG Capital Management in June 2021. |
| What is Digital Asset's valuation? | Digital Asset was last valued at $2B in its Series E in June 2026. |
| How much funding has Digital Asset raised? | Digital Asset has raised $847M across 9 funding rounds. |
| What was Digital Asset's last funding round? | Digital Asset's last funding round was a $355M Series E in June 2026, led by a16z crypto. |
| Who are Digital Asset's investors? | Digital Asset's investors include ASX, S&P Global, iCapital Network, Broadridge, ABN AMRO Fund, GreenWulf, Salesforce Ventures, CME Ventures, Accenture, BNY Mellon and 22 others. |
| Which companies are comparable to Digital Asset? | Companies comparable to Digital Asset include 2TM, Paxos, Securitize, LayerZero Labs, Anchorage Digital and Finexity. |
| How many companies has Digital Asset acquired? | Digital Asset has acquired 4 companies, including Elevence Digital Finance, Blockstack.io, Hyper and Bits Of Proof. |
| How many companies has Digital Asset invested in? | Digital Asset has invested in 1 company, including HQLAx. |
| What was Digital Asset's last investment? | In April 2026, Digital Asset invested in HQLAx's Series C alongside Broadridge. |
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