Crypto unicorn Anchorage Digital launches venture unit to back early-stage onchain protocols

Anchorage Digital, the crypto custody unicorn last valued at over $3 billion in its 2021 Series D round, has launched a venture capital unit to support early-stage protocol teams as broader crypto funding remains muted.

The unit, called Anchorage Digital Ventures, will provide capital and strategic support to founding teams building onchain infrastructure. Anchorage said the program is designed to help protocols launch “institutional-ready from day one,” with backing that extends beyond financial investment.

The launch of Anchorage Digital Ventures comes as crypto venture capital remains subdued this year even as markets rally, as The Block reported recently. Anchorage, founded in 2017, is one of the largest crypto platforms serving institutions and was the first to receive a federal bank charter in the U.S.

Anchorage’s move follows a broader trend of large crypto infrastructure firms establishing venture arms to back early-stage teams. Coinbase Ventures has become one of the most active investors across crypto startups, while Circle Ventures has focused on ecosystem plays tied to USDC adoption. Anchorage is now positioning its ventures program as a way to align early-stage protocols with institutional support from the outset.

"Getting a protocol to market is riddled with challenges, and our Ventures program is built to clear the path forward so they can navigate with confidence," said Nathan McCauley, co-founder and CEO of Anchorage Digital. "The protocols launching today will define how value moves through the global economy tomorrow."

Anchorage said it is particularly interested in teams working on Bitcoin DeFi, real-world assets, decentralized identity, and other primitives with potential to become foundational infrastructure. It also highlighted projects solving pain points for institutional adoption as a key focus.

Teams chosen will gain "modest" funding, one-on-one guidance with Anchorage’s product, engineering, and go-to-market staff, and access to a structured process for selecting market makers. Anchorage also said it will help with liquidity strategies and provide pathways to institutional adoption, ensuring projects integrated with Anchorage are available to major clients from launch.

Applications for the program are open and a select group of founders will be invited to present at an invite-only demo day during Token2049 in Singapore in October. Anchorage will then announce grant recipients on a rolling basis.

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