SCB 10X (https://scb10x.com/), the venture investment arm of SCBX Group, announced today that it participated in the $105 million Series B round raised by Talos (https://talos.com/), the premier provider of institutional digital asset trading technology. This new injection of capital, which values Talos at $1.25 billion, was led by global growth equity firm General Atlantic with participation from SCB 10X and additional investors that include BNY Mellon, Citi, Wells Fargo Strategic Capital, DRW, Matrix, Fin Cap and Voyager.
"Infrastructure plays the most important role in enabling future innovations. Talos' crypto Order Management and Execution System is designed to meet the needs of hedge funds, asset managers, banks, brokers & dealers, prime brokers, and other service providers. It provides comprehensive crypto trading infrastructure technology for institutions to manage the full trade life cycle, from price discovery to execution, through to clearing & settlement." said Mukaya (Tai) Panich, Chief Investment Officer of SCB 10X. "The transformation that the financial sector is undergoing can't be ignored. We are bullish about the huge role that Talos plays in mainstreaming institutional adoption and are excited to support the team in this next phase of their growth."
"We believe the digital assets infrastructure will have a wide-scale impact on the entire financial industry as traditional asset classes ultimately migrate to this new technology as well," said Anton Katz, co-founder, and CEO of Talos. "This funding round - and our investors, which include some of the most storied institutions on Wall St.-- represents a major inflection point for the industry. We've long heard that 'the institutions are coming', but the institutions are already here. We're extremely honored to have their confidence and support."
Talos' funding comes on the heels of the firm seeing institutional trading volume explode 20x Year-over-Year (YoY). Existing investors including Andreessen Horowitz, PayPal Ventures, Castle Island Ventures, Fidelity Investments, Illuminate, Initialized Capital, and Notation Capital also extended their partnerships with Talos through this newest funding round. The new capital will provide the team with resources to grow its footprint in APAC and Europe while continuing to scale and expand its technology offerings to support the complete, end-to-end trade lifecycle and strengthen its powerful pre and post-trade tools.
Talos also intends to leverage the funding to further expand its world-class team across the globe. The team has grown by over 400% during the past year and offers opportunities in New York, London, Sweden, and Singapore, as well as fully remote roles.