ConsenSys closes $65 million funding round backed by JPMorgan, Mastercard and more

Quick Take

  • The Brooklyn-headquartered ConsenSys has raised $65 million in new funding.
  • Among those backing the Ethereum-focused firm are JPMorgan, UBS, Mastercard as well as an array of investment firms and digital asset industry startups.

ConsenSys, the Ethereum-focused software company, has raised $65 million from a group that includes a pair of major banks, a top financial services firm and an array of digital asset industry startups and investors.

Among those backing the formation round, according to a press statement shared with The Block, is JPMorgan, whose involvement was reported by The Block last August. That same month, ConsenSys confirmed that it had secured a strategic investment from JPM as well as acquired Quorum, the Wall Street bank's blockchain unit. Quorum is a private blockchain network developed within JPMorgan using the Ethereum technology stack as a basis.

UBS and Mastercard also took part in Tuesday's $65 million funding round, as well as FTX owner Alameda Research, Protocol Labs, Fenbushi, the Maker Foundation, The LAO, Liberty City Ventures, the Greater Bay Area Homeland Development Fund and Quotidian Ventures. The $65 million was raised via a convertible note.

"When we set out to raise a round, it was important to us to patiently construct a diverse cap table, consistent with our belief that similar to how the web developed, the whole economy would join the revolutionaries on a next generation protocol," ConsenSys founder Joe Lubin said in a statement.

The participation by the Greater Bay Area Homeland Development Fund -- a private equity fund backed by both private and state-owned companies in China -- is notable, given ConsenSys's activities in the region. In January, the firm announced that it was partnering with the Blockchain-based Service Network (BSN) via integration with Quorum.