Crypto platform FalconX raises $150-M from GIC, B Capital, others at $8-B valuation

Digital assets platform FalconX has raised USD 150 million at a valuation of USD 8 billion in a funding round led by Singapore's sovereign wealth fund GIC and B Capital. The round also saw participation from Adams Street Capital, and existing investors Tiger Global Management, Thoma Bravo and Wellington Management. Some investors also sold their stake in FalconX. Accel India incubated FalconX plans to increase its workforce by 30% in the coming months, adding 55 new employees. It also intends to use the proceeds in acquisitions, technology and data analytics, expanding its services to institutions from trading execution, credit and prime brokerage.