Celsius Network’s $400 Million Investment Round

In UK Latham & Watkins, advised on the matter.

Latham & Watkins advised Celsius Network with a team including Edward Barnett (Picture – Corporate M&A).

Celsius Network, the leading global cryptocurrency earning and borrowing platform, executed a US$400 million investment led by WestCap, a growth equity firm, and Caisse de dépôt et placement du Québec (CDPQ), a global investment group. The transaction reflects a valuation of more than US$3 billion for Celsius.

Celsius intends to use the proceeds from this investment to continue expanding its offering and products, as well as building bridges between the traditional finance and cryptocurrencies, with specific emphasis on launching institutional grade products and offerings. Part of the proceeds would also be used to double its team from 486 employees to nearly 1,000 and expand globally through strategic acquisitions in order to continue fueling the exponential growth that it has experienced over the past year.

The WestCap Group is a growth equity firm founded by Laurence A. Tosi, who, together with the WestCap team, has founded, capitalized, and operated tech-enabled, asset-light marketplaces for over 20 years.

Caisse de dépôt et placement du Québec (CDPQ) invests constructively to generate sustainable returns over the long term. 

Celsius is a blockchain-based fee-free platform where membership provides access to curated financial services that are not available through traditional financial institutions. 

The Latham team was led by London corporate partner Ed Barnett (Picture) with associate Jon Fox, and Los Angeles emerging companies partner David Ajalat.

Involved fees earner: David Ajalat – Latham & Watkins; Edward Barnett – Latham & Watkins; Jon Fox – Latham & Watkins;

Law Firms: Latham & Watkins;

Clients: Celsius Network;

Author: Giulia Di Palma