RootData: Circle's total market value reaches $44.4 billion, with institutions like DCG, IDG, and Accel likely to be the biggest winners

Circle (NYSE:CRCL) stock price reached $199.59, with a total market capitalization of $44.417 billion, providing substantial profits for early investors, according to financing data from RootData and Circle's prospectus:

Accel and General Catalyst have key advantages from early entry. The A round's $9M investment cost was the lowest, with an initial valuation low (possibly in the millions), resulting in a nominal multiple of over 4000 times based on the current market value, but the prospectus shows significant dilution of their holdings.

IDG Capital is an important player in early investments in Circle in China. Although its participation in rounds C, D, and E may be affected by dilution, after the IPO, IDG Capital holds 10.4% of Class A shares, ranking first, followed by General Catalyst (10%), Breyer (6.7%), and Accel (5.4%). Circle co-founders Jeremy Allaire and P. Sean Neville hold 78.9% and 21.1% of Class B shares, respectively.

DCG strategically invested $25 million in Circle and supported Circle's USDC push through Genesis Trading, although the valuation was not disclosed. Based on the speculation of previous rounds, the valuation is estimated to be around $3-4.5 billion. If calculated at a $3.5 billion valuation, DCG's $25M investment would yield a potential multiple of about 12.6 times at the current market value of $44.4 billion. Combining the financing rounds and the prospectus, DCG's low-cost entry and holding until the IPO peak have provided it with a high return on investment due to its continued participation and early entry.