Citadel Securities-Backed Prime Brokerage Seeks to Raise Funds
- Hidden Road offers financing for clients to trade crypto, FX
- The round is expected to value the firm at about $1 billion
Hidden Road Partners focuses on cryptocurrencies and foreign exchange.
Photographer: Christopher Pike/BloombergThis article is for subscribers only.
A startup prime brokerage backed by Citadel Securities is the latest firm looking to raise new funds amid a bounceback in the digital-asset market, according to people familiar with the matter.
Hidden Road Partners, which focuses on cryptocurrencies and foreign exchange, is raising a series B equity round that will bring its valuation to around $1 billion, according to the people, who asked not to be named discussing non-public information. The round is currently projected to raise about $120 million, according to two of the people. A Hidden Road representative declined to comment.