October 13, 2021
Latham & Watkins advised Celsius
Network, the leading global cryptocurrency earning and borrowing platform, on a
US$400 million investment led by WestCap, a growth equity firm, and Caisse de
dépôt et placement du Québec (CDPQ), a global investment group. The transaction
reflects a valuation of more than US$3 billion for Celsius.
Celsius intends to use the proceeds from
this investment to continue expanding its offering and products, as well as
building bridges between the traditional finance and cryptocurrencies, with
specific emphasis on launching institutional grade products and offerings. Part
of the proceeds would also be used to double its team from 486 employees to
nearly 1,000 and expand globally through strategic acquisitions in order to
continue fueling the exponential growth that it has experienced over the past
The Latham team was led by London corporate
partner Ed Barnett with associate Jon Fox, and Los Angeles emerging companies
partner David Ajalat.