Bryan, Garnier & Co Leads a $80 Million Private Placement for European Blockchain Unicorn Bitfury
The Bitfury Group, the world’s leading full-service blockchain technology company, has closed a $80 million USD Private Placement with global institutional and corporate investors.
Since 2011, Bitfury has been at the forefront of the blockchain revolution, providing high performance computing technologies and processing capacities, as well as some of the most advanced software solutions for governments and corporations to deploy real life blockchain business solutions. Bitfury employs 700 people in 15 countries across North America, EMEA and Asia, and operates 5 data centers located in Iceland, Canada, Georgia and Norway. Bitfury leveraged on a strong momentum characterized by a triple digit growth and more than half a billion dollars in revenues to expand its shareholder base. The company will use its funds to support its growth and build on its unique technology expertise to expand in adjacent market segments such as AI.
The Private Placement was led by Korelya Capital, the European growth capital firm backed by Korean digital giant Naver Group which was joined by global institutional and corporate investors such as Macquarie Capital and Dentsu Japan, European fund managers Jabre, Lian Group, Argenthal and Armat Group, insurance groups Foyer and MACSF, as well as Galaxy Digital, a specialized digital asset merchant bank led by Mike Novogratz. ITech Capital, a Europe-focused venture capital firm and historical investor in Bitfury, also took part in the placement. The company remains controlled by its management team.
Bryan, Garnier & Co, the leading European growth focused investment bank acted as Sole Financial Advisor and Placement Agent for the Bitfury group. “As the market is maturing, we are witnessing an acceleration in the adoption of blockchain technologies throughout the world, in all domains, at both corporate and governmental level”, states Greg Revenu, Managing Partner of Bryan, Garnier & Co. This transaction illustrates the global institutionalization of the industry. It also demonstrates the positioning of the company as the world leading B2B technology infrastructure provider, with a breadth of activities that enables the company to be seen as the proxy for a global Blockchain investment thesis.”
With a technology team of close to 90 professionals in Europe, Bryan Garnier & Co has focused on this disruptive industry segment since 2017, publishing on the Blockchain sector combining equity research and investment banking resources in semi-conductors, technology infrastructures, energy transition, payments, software, security, and artificial intelligence. Bryan, Garnier & Co leveraged this industry expertise, combined with a 20-year experience in leading late stage private growth capital rounds, to expand the shareholder base and position ideally the company for a new stage of development.
Valery Vavilov, Founder and CEO of the Bitfury Group comments: “Bryan, Garnier & Co did an outstanding job, demonstrating a deep understanding of Bitfury’s strategy and needs, with a strong control on the transaction process. Most important, they constantly provided us with sound advice and showed an indefectible commitment to the success of the transaction.”
About The Bitfury Group (www.bitfury.com)
The Bitfury Group is the world’s leading full-service blockchain technology company. Bitfury is building solutions for the future, with the most significant technologies of the millennium. Our mission is to make the world more transparent and trusted by innovating at every level of technology – hardware, security, and software – to put trust back into the equation. Founded in 2011, Bitfury is the leading security and infrastructure provider for the Bitcoin Blockchain. In addition to securing the Bitcoin Blockchain, Bitfury also designs and produces innovative hardware that keeps blockchains secure, including custom semiconductor chips and mobile datacenters. Bitfury is also a software provider for the some of the world’s most cutting-edge applications through its private blockchain framework, Exonum, its advanced analytics platform Crystal Blockchain, and its specialized engineering team for the open-source Lightning Network, LightningPeach.
About Bryan, Garnier & Co (www.bryangarnier.com)
Bryan, Garnier & Co is a European, full service growth-focused independent investment banking partnership founded in 1996. The firm provides equity research, sales and trading, private and public capital raising as well as M&A services to growth companies and their investors. It focuses on key growth sectors of the economy including Technology, Healthcare, Consumer and Business Services. Bryan, Garnier & Co is a fully registered broker dealer authorized and regulated by the FCA in Europe and the FINRA in the U.S. Bryan, Garnier & Co is headquartered in London, with additional offices in Paris, Munich, Zurich and New York. The firm is a member of the London Stock Exchange and Euronext.