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Asset/Investment Management
INTERNET | Internet Software & Services / Asset & Financial Management & Trading
nydig.com

Investments

14

Portfolio Exits

1

Funds

3

Partners & Customers

10

About NYDIG

NYDIG provides digital financial services. It offers a full suite of institutional-grade digital asset prime brokerage, execution, and custody services. The company serves banking, insurance, mining, corporation, and other sectors. It was founded in 2017 and is based in New York, New York.

Headquarters Location

510 Madison Avenue 21st Floor

New York, New York, 10022,

United States

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Latest NYDIG News

Why Bitcoin halving remains an important factor for BTC prices

Oct 8, 2023

AMBCrypto 2min Read NYDIG said BTC’s Q3 was not surprising because of the rising concerns about the economic downturn and rising interest rates. But the halving potential, like previous cycles, remains potent. Posted: All eyes would be on the Bitcoin ETF outcome in Q4. For the past few months, a lot of Bitcoin [BTC] holders considered the decision on the ETF applications as the possible catalyst that could shoot the king coin to parabolic price levels. However, that has not been the situation. This is because the regulators involved have chosen to delay the applications until they deem fit. Despite that, BTC’s Year-To-Date (YTD) performance has remained at an impressive 63.3% increase. Bitcoin strategy fund New York Digital Investment Group (NYDIG), in its Q3 review of the market, considered the performance as great, especially as Bitcoin outperformed every other asset class. The scenario won’t change As AMBCrypto reported earlier, the coin’s 11% decrease in Q3 was a bit disappointing. NYDIG, however, said it was not surprising because there were rising concerns about the economic downturn and rising interest rates. Regardless of the current events, the asset management company noted that next year’s Bitcoin halving is still the major facet that could influence BTC’s price action. Source: NYDIG By April 2024, the halving will bring down the block reward from 6.25 BTC to 3.125 BTC at exactly 840,000 block. According to NYDIG, the halving remains a significant factor from an economic perspective, noting that, “By repeatedly halving the supply function, Bitcoin will eventually reach a point in 2140 where it can no longer be divided in half. This will effectively halt the growth in the number of bitcoins, an important part of Bitcoin’s “controlled supply” function.” The ETF is also important Price-wise, the firm also mentioned that that having would continue the pattern registered in previous cycles. For example, after the 2016 halving, BTC rose from 1,700 to over 15,000 months later. The scenario wasn’t exactly different in 2012 and 2020 also. NYDIG also mentioned how the November 2021 drawdown was similar to the experience of the 2018-2019 cycle. Source: NYDIG The report further added that the 2023 was already showing signs of the rebound that happened in in 2019. NYDIG explained that, “While 2023 looks a lot like 2019, it hasn’t experienced such a significant retracement. Nevertheless, it is important to emphasize the repetitive cyclical nature because Bitcoin appears to follow the path set by the previous two cycles.” Nonetheless, NYDIG noted that its insistence on halving as a catalyst does not negate the influence the Bitcoin ETF approval may have. It also mentioned that the litigation between Grayscale and the SEC, as well as the final decision on the ETF applications, could either make or mar BTC. The report read, “As we head into the fourth quarter, all eyes are focused on legal proceedings and the industry’s concerted efforts to gain approval for spot bitcoin trading in the US.” Share

NYDIG Investments

14 Investments

NYDIG has made 14 investments. Their latest investment was in Unchained Capital as part of their Series B on April 4, 2023.

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NYDIG Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

4/18/2023

Series B

Unchained Capital

$30M

No

5

3/16/2023

Seed VC

Wolf

Yes

1

4/14/2022

Seed VC - II

Impervious.ai

Yes

2

4/5/2022

Series B

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$99M

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10

3/21/2022

Series A

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$99M

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10

Date

4/18/2023

3/16/2023

4/14/2022

4/5/2022

3/21/2022

Round

Series B

Seed VC

Seed VC - II

Series B

Series A

Company

Unchained Capital

Wolf

Impervious.ai

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Amount

$30M

$99M

$99M

New?

No

Yes

Yes

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Co-Investors

Sources

5

1

2

10

10

NYDIG Portfolio Exits

1 Portfolio Exit

NYDIG has 1 portfolio exit. Their latest portfolio exit was ErisX on October 20, 2021.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

10/20/2021

Acquired

$99M

3

Date

10/20/2021

Exit

Acquired

Companies

Valuation

$99M

Acquirer

Sources

3

NYDIG Acquisitions

3 Acquisitions

NYDIG acquired 3 companies. Their latest acquisition was Bottlepay on October 29, 2021.

Date

Investment Stage

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Total Funding

Note

Sources

10/29/2021

Seed / Angel

$99M

$15.49M

Acquired

2

4/22/2021

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$99M

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10

1/11/2021

Debt

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$99M

$99M

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10

Date

10/29/2021

4/22/2021

1/11/2021

Investment Stage

Seed / Angel

Debt

Companies

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Valuation

$99M

$99M

$99M

Total Funding

$15.49M

$99M

Note

Acquired

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Sources

2

10

10

NYDIG Fund History

3 Fund Histories

NYDIG has 3 funds, including NYDIG Institutional Bitcoin Fund.

Closing Date

Fund

Fund Type

Status

Amount

Sources

10/3/2022

NYDIG Institutional Bitcoin Fund

$720M

1

12/2/2020

NYDIG Digital Assets Fund I

$99M

10

12/2/2020

NYDIG Digital Assets Fund II

$99M

10

Closing Date

10/3/2022

12/2/2020

12/2/2020

Fund

NYDIG Institutional Bitcoin Fund

NYDIG Digital Assets Fund I

NYDIG Digital Assets Fund II

Fund Type

Status

Amount

$720M

$99M

$99M

Sources

1

10

10

NYDIG Partners & Customers

10 Partners and customers

NYDIG has 10 strategic partners and customers. NYDIG recently partnered with First Community Credit Union (MO) on July 7, 2022.

Date

Type

Business Partner

Country

News Snippet

Sources

7/27/2022

Client

First Community Credit Union to offer bitcoin purchasing, selling

`` NYDIG 's strong security and practices aligned with FCCU which made the decision to partner with NYDIG one we are confident in .

1

7/27/2022

Client

United States

First Community Credit Union to offer bitcoin purchasing, selling

`` NYDIG is proud to partner with FCCU to offer Bitcoin services to its members in the Lone Star State , '' Rahm McDaniel , head of banking solutions , NYDIG , said in the release .

1

7/18/2022

Partner

United States

Southland Credit Union Launches Mobile Cryptocurrency Service Alongside $5 Bitcoin Promotion

LOS ALAMITOS , Calif. -- -- Southland , a billion-dollar credit union , today announced the company 's partnership with NYDIG , a leading bitcoin company .

2

7/18/2022

Partner

United States

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10

7/14/2022

Client

United States

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10

Date

7/27/2022

7/27/2022

7/18/2022

7/18/2022

7/14/2022

Type

Client

Client

Partner

Partner

Client

Business Partner

Country

United States

United States

United States

United States

News Snippet

First Community Credit Union to offer bitcoin purchasing, selling

`` NYDIG 's strong security and practices aligned with FCCU which made the decision to partner with NYDIG one we are confident in .

First Community Credit Union to offer bitcoin purchasing, selling

`` NYDIG is proud to partner with FCCU to offer Bitcoin services to its members in the Lone Star State , '' Rahm McDaniel , head of banking solutions , NYDIG , said in the release .

Southland Credit Union Launches Mobile Cryptocurrency Service Alongside $5 Bitcoin Promotion

LOS ALAMITOS , Calif. -- -- Southland , a billion-dollar credit union , today announced the company 's partnership with NYDIG , a leading bitcoin company .

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Sources

1

1

2

10

10

NYDIG Team

10 Team Members

NYDIG has 10 team members, including , .

Name

Work History

Title

Status

Robert Gutmann

Founder

Current

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Name

Robert Gutmann

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Work History

Title

Founder

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Status

Current

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