Bryan, Garnier & Co leads a $80 million Private Placement for European Blockchain Unicorn Bitfury

Bryan, Garnier & Co leads a $80 million Private Placement for European Blockchain Unicorn Bitfury

News published on November Tuesday 6, 2018
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Context

Since 2011, Bitfury has become the world leading developer and supplier of B2B end-to-end Bitcoin blockchain infrastructure and software solutions to corporate and government agencies.

The company is strategically placed at the center of the blockchain ecosystem by designing, developing and deploying full-stack technology solutions, from proprietary ASIC design and blockchain transaction processing, to enterprise grade private blockchain software solutions.

Bitfury employs 700 people in 15 countries across North America, EMEA and Asia, and operates 5 data centers located in Iceland, Canada, Georgia and Norway.

Bitfury leveraged a strong momentum characterized by a triple-digit growth in one of the most attractive markets of today to successfully complete a $80m fundraising process aiming to support future organic growth.

Transaction highlights

Bryan, Garnier & Co acted as the Sole Placement Agent to Bitfury on this fundraising process.

Bryan, Garnier & Co ran a competitive process backed by a full due diligence at a highly attractive valuation above unicorn level with protective investment terms.

The investment round was led by renowned European growth capital firm Korelya Capital, and was joined by global institutional and corporate investors such as Asian institutions Macquarie Capital and Dentsu Japan; European fund managers Jabre, Lian Group, Argenthal and Armat Group; insurance groups Foyer and MACSF; and Galaxy Digital, a specialized digital asset merchant bank led by Mike Novogratz. iTech Capital, a Europe-focused venture capital firm and historical investor in Bitfury, also took part in the placement.

This transaction exemplifies Bryan Garnier’s deep understanding of the blockchain technology ecosystem and relationships with strategic and financial sponsors worldwide.

Bryan, Garnier & Co's deep industry expertise and research capacity in the sector, combined with a 20-year experience in leading late stage growth financing rounds, enabled Bitfury to secure an optimal transaction to support its international expansion in a fast-growing market.

About Bitfury

Founded in 2011, Bitfury is the leading security and infrastructure provider for the Bitcoin Blockchain. In addition to securing the Bitcoin Blockchain, Bitfury also designs and produces innovative hardware that keeps cryptocurrencies and blockchains secure, including custom semiconductor chips and mobile datacenters. Bitfury is also a software provider for the some of the world’s most cutting-edge applications through its private blockchain framework, Exonum, its advanced analytics platform Crystal Blockchain, and its specialized engineering team for the open-source Lightning Network, LightningPeach.

(www.bitfury.com)

About Bryan, Garnier & Co

Bryan, Garnier & Co is a European, full service growth-focused independent investment banking partnership founded in 1996. The firm provides equity research, sales and trading, private and public capital raising as well as M&A services to growth companies and their investors. It focuses on key growth sectors of the economy including Technology, Healthcare, Consumer and Business Services. Bryan, Garnier & Co is a fully registered broker dealer authorized and regulated by the FCA in Europe and the FINRA in the U.S. Bryan, Garnier & Co is headquartered in London, with additional offices in Paris, Munich, Zurich and New York. The firm is a member of the London Stock Exchange and Euronext.

(www.bryangarnier.com)

Deal team

Greg Revenu
Managing Partner
T: +33 1 56 68 75 25

Pierre Lafitte
Director
T: +33 1 56 68 75 08

Alexandre Brestin
Senior Analyst
T: +33 1 56 68 75 09

Daniel Seroux
Analyst
T: + 33 1 56 68 75 90

 


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