Citadel Securities Obtained $1.15B Via Fundraising Led by Sequoia and Paradigm

By Natalie Wu | January 13, 2022

Citadel Securities, the market maker division of Ken Griffin-led hedge fund Citadel – reportedly disclosed details related to VC entities Sequoia Capital and Paradigm putting a $1.15 billion capital injection in it. 

Specifically, the freshly secured funding will reportedly bring Citadel’s overall valuation to reach $22 billion, with the newly forged alliance with Paradigm – a Web3-focused investor – showing signs of Citadel Securities ambition for heading in new directions supporting emerging assets, nominally crypto. 

Sequoia – in charge of leading the round with investment from Sequoia Heritage, Sequoia Capital Global Equities, and its Global Growth Fund – will reportedly also be given a position in the table on the Citadel Securities board of directors, where Sequoia partner Alfred Lin will take up the role.

Per the official statement, Citadel Securities is reportedly going to channel the new capital injection towards fast-tracking the development of new products, markets, and regions.

“As technological innovation in financial markets becomes only more important, we see enormous opportunities to meet the needs of our clients across more markets and more products. Our partnership with Sequoia and Paradigm puts us in an even stronger position.” Head of Citadel Securities – Peng Zhao – further remarked. 

Ken Griffin has reportedly long been considered a skeptic when it comes to crypto, even claiming that crypto was “a jihadist call that we don’t believe in the dollar” only a few months prior. 

Regardless of the perspective its parent hedge fund’s CEO displays, Citadel Securities is reportedly showing clear intentions of embracing its expansion into cryptocurrency.

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