Latham & Watkins Advises Celsius Network on US$400 Million Investment by WestCap and CDPQ

Cross-border team represents leading global crypto platform in the transaction with a US$3 billion valuation.

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 year.

The Latham team was led by London corporate partner Ed Barnett with associate Jon Fox, and Los Angeles emerging companies partner David Ajalat.

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