a16z Invests $250M in Alchemy, Alameda Backs Voyager with $75M

Alchemy launched publicly about a year ago and has increased its revenue 15 times over the last six months, in addition to powering more than $45 billion in transactions for users internationally, it said.

article-image

Source: Shutterstock

share

key takeaways

  • Alchemy powers companies like PwC and Adobe all the way to businesses developing in Web3 like Dapper Labs, Aave, OpenSea, and Axie Infinity
  • Alameda Research’s strategic investment will be used to create a partnership and focus on crypto and asset management initiatives

Andressen Horowitz, or a16z, led a $250 million raise for blockchain and Web3 platform developer Alchemy in its latest Series C round, bringing its valuation to $3.5 billion, the company said in a statement Thursday. 

Lightspeed and Redpoint are joining as investors, with participation from previous investors Coatue, Addition, DFJ and Pantera Capital. The funding will be used to help the platform build out additional benefits from blockchain, decentralization and Web3 for its developers. 

“Alchemy is doing for blockchain and Web3 what AWS did for the internet,” the company said in reference to Amazon Web Services, which provides on-demand cloud computing platforms and APIs. It launched publicly about a year ago and has increased its revenue 15 times over the last six months, in addition to powering more than $45 billion in transactions for users internationally, it said.

Alchemy powers companies like PwC and Adobe all the way to businesses developing in Web3 like Dapper Labs, Aave, OpenSea, and Axie Infinity.

“We’re excited to continue investing in making blockchain accessible to developers globally,” Nikil Viswanathan, co-founder and CEO of Alchemy said in a statement. “Empowering developers is the key to bringing the magic of blockchain to the world,” Viswanathan added.

Alameda Research invests $75M in Voyager Digital 

The publicly traded cryptocurrency platform Voyager Digital announced a $75 million investment from Alameda Research on Thursday. 

The strategic investment will create a partnership between the two companies to focus on executive, asset management and broader crypto initiatives, the companies said in a statement. 

Alameda Research trades over $5 billion daily across thousands of products including major cryptocurrencies and altcoins as well as derivatives, it said. Voyager Digital provides a platform for more than 2 million users to trade over 60 crypto assets as well as the ability to earn rewards up to 12% annually on about 30 cryptocurrencies. 

“While the immediate opportunity is on the order flow and asset management front, we are tremendously excited about potential future synergistic opportunities in the continuously evolving crypto industry,” Steve Ehrlich, CEO and co-founder of Voyager said. “These opportunities include NFTs and crypto derivatives through Alameda, as well as the creation of thought leadership as we work with lawmakers on shaping regulation,” Ehrlich added. 

Also this week, Voyager partnered with Dallas Mavericks in a five-year agreement to make cryptocurrency more accessible through educational and community programs and fan engagement promotions, Blockworks previously reported

In the beginning of October, Voyager’s preliminary revenue fell about 40% from the previous quarter, according to a report. The crypto company declined to comment further when requested by Blockworks, but referenced the statement in the press release that “Voyager’s transactional volume is contingent on market volume and the overall market volume decreased substantially in July and August.”

Tags

Upcoming Events

Javits Center North | 445 11th Ave

Tues - Thurs, March 18 - 20, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

Brooklyn, NY

TUES - THURS, JUNE 24 - 26, 2025

Permissionless IV serves as the definitive gathering for crypto’s technical founders, developers, and builders to come together and create the future.If you’re ready to shape the future of crypto, Permissionless IV is where it happens.

recent research

Research Report Templates.png

Research

An overview of the Base Ecosystem, with a focus on market leaders.

article-image

Although bitcoin hitting $120k by year’s end is looking unlikely

article-image

About 270 million HYPE has been claimed, valued around $7.6 billion

article-image

Stanford professors David Mazières and Dan Boneh will lead the lab alongside a cohort of graduate student researchers

article-image

With more companies holding BTC, bitcoin yielding strategies could become “a new corporate finance norm,” CoinShares posed

article-image

The proposal comes after Polygon governance considered a controversial use of bridged liquidity for yield

article-image

Can the community balance its decentralized ethos with the need for inclusivity and constructive debate?