Blockdaemon raises $28M Series A to scale up enterprise blockchain infrastructure, with BlockFi Lending, Goldman Sachs, Greenspring Associates among investors
Kyt Dotson / SiliconANGLE :
Context & Ripple Effects
Blockdaemon’s Series A sits early in a funding arc that later included a $155M Series B at a $1.26B valuation and a $207M Series C at a $3.25B post-money valuation. The presence of BlockFi Lending and Goldman Sachs links the infrastructure provider to crypto-finance and institutional-finance participants, while Digital Asset had already raised capital to build technology for financial institutions.
First-order effects
- Blockdaemon gains $28M to expand its enterprise blockchain-infrastructure operations, with BlockFi Lending, Goldman Sachs and Greenspring Associates becoming financial backers.
- BlockFi Lending and Goldman Sachs gain an investment relationship with a provider of the node-management and staking infrastructure on which blockchain services can be built.
Second-order effects
- Blockdaemon’s financing raises the capital bar for infrastructure rivals: Blockstream later raised $210M for its Bitcoin infrastructure and apps, showing investor demand for scaled providers rather than isolated blockchain products.
- Infrastructure companies serving financial institutions gain a clearer funding benchmark, alongside Digital Asset’s earlier $40M Series B for financial-institution technology.
Third-order effects
- The successive Blockdaemon rounds point to blockchain infrastructure becoming a venture-scale layer of the market, with valuations increasingly tied to the ability to operate services for enterprises rather than to a single application.
- As lenders and banks appear alongside specialist investors, the sector’s capital base shifts toward financial firms that can back infrastructure providers across multiple blockchain services.
The trend: Blockchain investment is moving toward capital-intensive, enterprise-facing infrastructure providers, with crypto and traditional financial investors participating in their funding rounds.