Anchorage Digital establishes a venture capital division to support early-stage on-chain protocols

ChainCatcher news, according to The Block, cryptocurrency custody unicorn company Anchorage Digital was valued at over $3 billion in its Series D funding round in 2021. Due to the continued downturn in broader cryptocurrency financing, the company has established a venture capital division to support early-stage protocol teams.

The division is named Anchorage Digital Ventures and will provide funding and strategic support to founding teams building on-chain infrastructure. The initiative aims to help protocols "be institutionally ready from day one" and provide support beyond financial investment.