Cryptocurrency prime broker Hidden Road Partners achieves over $1 billion valuation in Series B funding round

NftBankruptcyClub · 2026-02-27T00:07:55+00:00

Hidden Road Partners is raising $1.21 billion in a Series B round, with an expected valuation of around $1 billion. Founded by Mark Ash, the firm focuses on digital assets and forex markets, expanding its services to include multiple asset classes and positioning itself as a key player in the prime brokerage sector.

NftBankruptcyClub

2026-02-27 00:07:55

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According to reports from Bloomberg and PANews, the digital asset and foreign exchange market-focused prime broker Hidden Road Partners is currently conducting a Series B funding round, with a company valuation expected to reach approximately $1 billion. The funding round could raise up to $1.21 billion, attracting attention as a major financing deal in the cryptocurrency industry.

Emerging Prime Broker Founded by Hedge Fund Executives

Hidden Road Partners was founded with deep connections to mainstream financial firms. The company was established in 2018 by Mark Ash, who gained experience at SAC Capital and Point72 Asset Management, both led by billionaire hedge fund manager Steven Cohen. These prestigious institutions’ experience forms the foundation of Hidden Road Partners’ prime brokerage business, emphasizing its strength in serving institutional investors.

Business Expansion Strategy Covering Multiple Asset Classes

Hidden Road Partners offers prime brokerage services that extend beyond traditional foreign exchange markets to include cryptocurrencies and commodities, among other asset classes. In its 2022 funding round, the company raised $50 million to enhance its capabilities across a broad range of markets, including forex, precious metals, and digital assets. The current Series B funding is strategically aimed at accelerating this multi-faceted business expansion.

Strengthening Competitiveness in the Prime Brokerage Market and Industry Impact

Prime brokerage involves providing comprehensive support such as lending, securities lending, and settlement services to hedge funds and large institutional investors. With the rapid growth of the digital asset market, demand for prime brokers capable of handling cryptocurrencies has surged, and specialized firms like Hidden Road Partners are playing a crucial role in the market. A valuation exceeding $1 billion indicates strong market recognition of the company’s business model and growth potential.

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