Kraken, a leading cryptocurrency platform focused on security, is set to expand significantly, presenting an investment opportunity that could yield substantial returns leading up to its potential IPO in 2026.

Target Information

We are pleased to announce our investment in Kraken, a leading cryptocurrency platform renowned for its robust security measures and innovative services. Kraken has achieved impressive financial performance, generating approximately $1.5 billion in annual revenue and recording a trading volume of $665 billion, growing at a compound annual growth rate (CAGR) of 46%. The company's user base is expanding rapidly, with projections indicating it will surpass 15 million users soon.

Kraken operates in a dynamically evolving market landscape, benefitting from recent regulatory support for cryptocurrencies and blockchain innovations in the United States. This favorable environment enhances its growth potential, particularly within its consumer business segments, creating opportunities for significant financial returns in the near term.

Industry Overview in the United States

The cryptocurrency sector in the United States is experiencing a transformative era, marked by increased regulatory clarity and institutional adoption. Recent government initiatives have sought to lower barriers to entry and bolster the legitimacy of blockchain technologies, contr

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Not specified

invested in

Kraken

in 2024

in a Buyout deal

Disclosed details

Transaction Size: $7,500M

Revenue: $1,500M

EBITDA: $380M

Enterprise Value: $7,500M


Multiples

EV/EBITDA: 19.7x

EV/Revenue: 5.0x

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