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Amber Group Secures $300 Million Series C Investment Round Led by Fenbushi Capital US
Amber Group, a leading global digital asset company, today announced the completion of a $300 million Series C round led by Fenbushi Capital US, with participation from various other crypto-native investors and family offices. Amber Group’s Series C round is the largest investment the firm has received following its $200 million Series B+ round earlier this year.
Amber Group has emerged as an eminent player that is strategically aligned with investors who share the same principles and vision of building a sustainable future for the digital asset industry. This latest round of capital comes amid market volatility, and will strengthen the resiliency of Amber Group’s business. The capital will enable the company to double down on delivering best-in-class digital asset services, with priority given to its core client base of institutional and high-net-worth investors.
“At Amber Group, our sights are set on business sustainability, and we go above and beyond to protect our clients as we weather the current market environment. This means making difficult but necessary choices to safeguard our clients, with a runway for long-term growth. While this strategic business adjustment is made in response to the challenges of the current market, this will ultimately lay the groundwork for us to build a more resilient and agile business that will continue to deliver best-in-class services and growth for our clients, no matter the season,” said Amber Group’s Chief Executive Officer, Michael Wu.
“We want to help create a digital future where digital assets can thrive as a trusted asset class and this can only be achieved with longevity and stability in mind. As we look forward to strengthening the core of our business and delivering on this commitment, we are very proud to have the support of our investors who are putting their capital and trust in us as we work towards realizing this future together,” added Wu.
Founded in 2017, Amber Group has developed expertise in servicing institutional and high-net-worth individual clients with an institutional and traditional finance pedigree. The Singapore-headquartered company is one of the world’s leading liquidity providers, offering clients services that include algorithmic execution, electronic and OTC market-making derivatives and structured products.
Amidst the challenging market conditions, Amber Group continues to experience steady global growth in H1 2022, indicated by its strong H1 2022 financial performance of US$250m – a 25% YoY growth rate compared to the previous year. The company’s institutional business in particular benefits from a robust systematic pricing framework and a focus on client service. As a result of the institutional business’ strong track record, many of the company’s institutional clients remain steadfast in their trust in Amber Group as the company overcomes ongoing market turbulence.
The company’s industry leadership is supported by its lasting commitment to upholding strict security and regulatory compliance. The company is among the first global digital wealth platforms to have achieved Service Organization Control (SOC) 2 Type II compliance – an external, independent review that benchmarks industry best practices in IT, security, and privacy controls. This is in addition to the company successfully securing comprehensive insurance coverage for its wallet infrastructure from A-rated insurance provider Arch Syndicate 2012 of Lloyd’s of London and insurtech firm, OneDegree, aggregating to over US$100 million in coverage at present, with a view to expand this in the near future. The company also holds over 12 regulatory licenses globally, across key markets in the North America, Europe and Asia regions.
“We have been impressed by the professionalism and commitment of Amber Group to regulatory compliance and the long-term development of the digital asset industry. Having observed the company’s track record and the team’s willingness to evolve its business in line with the current and anticipated market environment, we are proud to support Amber Group as it enters a new chapter in its development journey. We are absolutely confident that the company will continue to be at the forefront of the industry beyond this crypto winter, and we look forward to working closely with Amber Group to realize the digital future of finance,” said Fenbushi Capital’s Founder, Bo Shen.
About Amber Group
Amber Group is a leading digital assets company operating globally with a presence in Asia, Europe, and the Americas. The firm provides a full range of digital asset services spanning liquidity provisioning, trading, financing, and investing. Amber Group is backed by prominent investors including Fenbushi Capital US, Sequoia Capital, Temasek, Paradigm, Tiger Global, Dragonfly Capital, Pantera Capital, Coinbase Ventures, and Blockchain.com.
For more information, please visit www.ambergroup.io.
This post is commissioned by Amber Group and does not serve as a testimonial or endorsement by The Block. This post is for informational purposes only and should not be relied upon as a basis for investment, tax, legal or other advice. You should conduct your own research and consult independent counsel and advisors on the matters discussed within this post. Past performance of any asset is not indicative of future results.