eldridge

ChainCatcher news, according to the Financial Times, Digital Currency Group is trying to raise funds to avoid bankruptcy for its brokerage subsidiary Genesis, partly to avoid an immediate repayment of loans from American financier Todd Boehly's investment firm. Sources say that if Genesis goes bankrupt, the remaining $350 million of this loan will become due immediately.Boehly provided debt financing for DCG through his investment group Eldridge last November, which included a $600 million loan jointly provided by Eldridge and other investors. Eldridge believes that Genesis's suspension of withdrawals means that DCG cannot repay its debts, thus it is in default. Eldridge is currently working with DCG to help it raise funds and pay Genesis's investors, clients, and customers.It is reported that DCG owes Genesis $1.6 billion, but the loan it received from Eldridge has favorable terms. DCG stated that its relationship with Eldridge is "completely independent of Genesis's restructuring strategy and has no impact on any outcome for Genesis." (source link)

ChainCatcher news, the Web3 customer management system platform Laylo announced the completion of a new round of strategic financing, with the specific amount undisclosed. Eldridge led the investment, with participation from angel investors including Third Prime Ventures, LVRN Management, Moment Ventures, Shane Mac (XMTP), Gil Weisblum (Ranger Global), and Sam Evitt (Method Music).As of now, Laylo's total financing amount has exceeded $8 million, having previously received investment from Y Combinator in July last year. (source link)

ChainCatcher news, investment and banking application Stash has completed $52.6 million in debt financing, documents show that Stash raised funds from a dozen investors, with the issuance of convertible bonds starting on September 6, which can be converted into equity of the issuing entity in the form of stock or other forms.It is reported that Stash announced in early October 2022 the expansion of its investment portfolio services to support eight cryptocurrencies, including ETH and BTC. The company is valued at approximately $1.4 billion and raised $125 million in Series G financing in February 2021, led by Eldridge. (source link)