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Draper Esprit joins $380m Series C in portfolio company, Ledger

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We are pleased to announce our participation the latest funding round of our portfolio company, Ledger, now valued at over $1.5bn. Having participated in Ledger’s $75 million Series B round back in 2018, it has been exciting to see what the company has built and their continued growth.

The $380 million Series C investment round will allow Ledger to extend its leading position in cryptocurrency security and services to become the secure gateway to the entire digital asset ecosystem. The fundraising will allow the company to realise these ambitious plans by further innovating its hardware products, adding new transactional services to Ledger Live such as Decentralized Finance solutions, and significantly expanding its enterprise capabilities. In addition, Ledger will use its new funding to invest in its proprietary Operating System which runs across all of Ledger’s products and services, so that it can support the seamless integration of new third-party services.

Pascal Gauthier, Ledger CEO, said:

“This Series C announcement marks the transition of Ledger from the leading digital asset security company to becoming the secure gateway to the entire digital asset ecosystem. This industry is fast becoming mainstream and reshaping the entire financial sector and beyond. Our products are designed to give users maximum control over their digital assets and provide unparalleled protection against cyber-attacks. We are well-positioned to become the secure gateway to the digital asset world with the potential to integrate our services into nearly every feature of the digital asset ecosystem.”

Will Turner, Managing Partner at Draper Esprit, added:

“We met Pascal and the team at Ledger many years ago and were excited to lead their Series B round in 2018, and they’ve continued to build impressively since. We’re delighted to continue our support of Ledger with this impressive round. Ledger is at the forefront of a huge growth trend in digital assets and there remains incredible potential for this business in what is a rapidly growing market. Ledger is also a great example of how French tech can take on the world and we see many great companies following their lead.”