More than Century Old Asset Management Firm Invests $100mln in April 22, 2021 April 22, 2021 Kelly Cromley http://1AZFjzw2#Nwf63pYaMWq#xIY
Market NewsApril 22, 2021 by Kelly Cromley

More than Century Old Asset Management Firm Invests $100mln in

The 110-year old wealth management company, Baillie Gifford, popular for acquiring a stake on companies such as Tesla, has invested $100 million in top crypto wallet service named

Peter Smith, co-founder and CEO of, has stated that Baillie Gifford’s investment in the $300 million financing event conducted in March, has turned out to be the single biggest investment received by Blockchain as of now.

Smith further informed that Baillie Gifford’s involvement in the funding round reflected “one of their first investments in a crypto company.”

The CEO wrote “It’s also a validation that a balanced and diversified retail/institutional business has incredible growth potential in the coming years.”

With more than $445 billion worth assets under management (AUM), Baillie Gifford has transformed into a top tech investor, profiting roughly $28 billion by investing early on Alibaba and Tesla, in addition to pharmaceutical firms such as Moderna. Baillie Gifford, an investor largely unconnected with Wall Street, made a $16 billion profit from investment in Tesla alone at the end of August 2020. The firm is known for investing in enterprises such as Amazon, Google and Airbnb.

The investment in has come against the backdrop of rising investor interest in the company and the broader crypto sector. The UK based is among the largest fundraisers so far in 2021, amassing $420 million in two financing rounds in February and March, implying a valuation of $5.20 billion.

As per data provided by business analytics company CB Insights, the funding obtained by blockchain and cryptocurrency firms such as, Dapper Labs and BlockFi in the first-quarter of 2021 was greater than the funds received during the entire period of 2020.

AuthorKelly Cromley

Kelly is our in house crytpto researcher, delving into the stories which matter from blockchains being used in the real world to new ico coming out.