Coinbase reportedly closed $300 million funding round last year with possible backing from Singapore-based GIC Private Limited.
According to the sources in the known, Coinbase got huge financial support provided by GIC Private Limited, a state-owned wealth fund from Singapore in 2018. Moreover, there are rumours, that investment was the first one to be made by the Singaporean company in the cryptocurrency area.
The fund holds above $100 billion that are distributed over 40 countries and held in assets of various classes. Other estimations, however, show the figure might be even higher and can reach $390 billion.
Coinbase held Series E equity round in October 2018, after which it generated some $300 million. Still, none of the participants unveiled any information about the fact that the fund took part in it.
The list of participants included Tiger Global Management, Y Combinator Continuity, Wellington Management, Andreessen Horowitz, Polychain.
The digital assets segment is getting increasingly popular among large-scale investments. A bit earlier, the University of Michigan revealed it invested some $3 million in Andreessen Horowitz’s crypto fund in June 2018. In addition, it also considers additional investments in other industry representatives. Yale University, in its turn, supported Horowitz’s fund and Paradigm’s $400 million crypto one in October 2018.