ConsenSys raises $450 million Series D at $7 billion valuation

Quick Take

  • ConsenSys has raised $450 million in a Series D funding round.
  • The funding will support the acceleration of Infura’s global adoption, as well as ConsenSys’s efforts to drive NFT adoption for brands and artists.
  • The raised funds will be converted to ETH.

ConsenSys, one of the most well-known Ethereum-focused companies, has raised a new $450 million funding round.

The Series D funding round, led by ParaFi Capital, values the firm at $7 billion — representing a doubling of its valuation since the firm's November 2021 Series C round, when it raised $200 million. The Block had previously reported on the then-pending round in January.

New investors in the Series D round include Temasek, SoftBank Vision Fund 2, Microsoft, Anthos Capital, Sound Ventures, and C Ventures. Participants from the Series C funding round, including Third Point, Marshall Wace, True Capital Management, and United Talent Agency’s venture fund UTA VC, also took part in the new round.

Notably, ConsenSys intends to convert the funding it received into ether (ETH), the native cryptocurrency of the Ethereum network.

“All proceeds from the round will be converted to ETH to further build ConsenSys’s 'ultra sound money' position as a rebalance to its ETH to fiat ratio in line with ConsenSys’ treasury strategy,” said a company statement.

In a separate statement, founder and CEO Joe Lubin indicated that this approach will inform ConsenSys's future funding initiatives.

"This round takes in digital assets as well as fiat and concerts all immediately to ETH," Lubin was quoted as saying. "Next round will be our 'Series ETH' where we will assist investors in getting fully crypto native and contributing ETH as a symbol of and commitment to the ongoing paradigm shift.”


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The funding round is one of the most notable for 2022 thus far and represents a significant development for ConsenSys, which at the start of 2020 moved to