Citadel Securities takes in $1.15B investment from Sequoia and Paradigm

Citadel Securities announced that Sequoia and Paradigm, VC firms, made a $1.15billion combined minority investment in market maker. This brings its value to $22billion. Citadel Securities has made a shift to new asset classes with the partnership with Paradigm (a Web3-focused investor).

Sequoia Heritage, Sequoia Capital Global Equities, and the Global Growth Fund invested in the round. Sequoia will also be a member of the Citadel Securities Board of Directors, which is headed by Sequoia Partner Alfred Lin.

We are pleased to announce that Sequoia & Paradigm have made $1.15 billion in minority investments in our company. https://t.co/EIbWKduS1h
— Citadel Securities (@citsecurities) January 11, 2022

Related: Sequoia China leads $25M Equity Round for DeFi wallet DeBank

Citadel Securities stated that it will use the funds for its continued growth in new markets, products and regions. Citadel Securities CEO Peng Zhao said:

“As technology innovation in financial markets becomes more important, we see immense opportunities to meet our clients’ needs across more markets and products. We are now in a stronger position thanks to our partnership with Sequoia & Paradigm.

Related: Ken Griffin claims that Bitcoin will soon be replaced with Ethereum-based currency

Ken Griffin was a crypto skeptic in the past. He even claimed that crypto was a “jihadist call that we don’t believe in dollars” just a few months back. Citadel’s cryptocurrency arm is clearly open to expanding into cryptocurrency.

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