Early Tesla Investor Baillie Gifford Backs Blockchain.com with $100M

Baillie Gifford, which manages $445 billion in assets, is known for investing in some of technology’s biggest names early on, including Google, Amazon and Airbnb.

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key takeaways

  • Blockchain.com secured $420 million in two fundraises in February and March and has a valuation of $5.2 billion
  • The contribution to the $300 million Series C raise last month is the largest single investment in Blockchain.com ever made

Baillie Gifford & Co., the 110-year-old asset management firm known for its substantial early bet on Tesla Inc. and other technology companies, has invested $100 million in cryptocurrency wallet start-up Blockchain.com. 

The Edinburgh-based firm’s contribution to the $300 million Series C raise last month is the largest single investment in Blockchain.com ever made, co-founder and CEO Peter Smith announced in a post Wednesday. It also marks one of Baillie Gifford’s first investments in the cryptocurrency space. 

“As one of their first investments in a crypto company, we’re honored to include them on our journey,” Smith said in the post. “It’s also a validation that a balanced and diversified retail/institutional business has incredible growth potential in the coming years.”

Baillie Gifford, which manages $445 billion in assets, is known for investing in some of technology’s biggest names early on, including Google, Amazon and Airbnb. The firm started investing in Tesla in 2013, when shares were around $6, and today remains one of the largest outside investors in the electric car company. As of August 2020, Baillie Gifford earned $16 billion in profit from its Tesla investment alone. 

Baillie Gifford’s interest in Blockchain.com is not isolated. The London-based start-up secured $420 million in two fundraises in February and March and has a valuation of $5.2 billion.

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