Citadel-Backed Hidden Road Partners Targets $120M in Series B Hidden Road Partners,
Citadel Securities-backed prime brokerage, plans to raise $120 million in its Series B funding round, aiming for a market
valuation of $1 billion.
According to a
Bloomberg report, sources familiar with the matter, who requested anonymity due to the information sensitivity, stated that the
Citadel Securities-backed prime brokerage firm is seeking to expand its offerings in the cryptocurrency and foreign
exchange markets. The round is currently projected to raise about $120 million, according to two of the people. A
Hidden Road representative declined Bloomberg’s request for comment. Hidden Road was established in 2018 by Marc Asch, a former employee at
Steven Cohen’s hedge fund firms SAC Capital and Point72 Asset Management.
This firm quickly positioned itself in the financial market by securing $50 million during its Series A
funding round. The Series A was led by
Castle Island Ventures. Notable investors in this round included Citadel Securities,
FTX Ventures, Uncorrelated Ventures,
Greycroft, XBTO Humla Ventures, Wintermute, Coinbase Ventures, among others.Hidden Road offers
prime-brokerage services across multiple markets, such as foreign exchange,
precious metals, and digital assets.
