On Thursday, the Digital Currency Group (DCG) announced that it had raised $ 600 million in a new credit facility, making its debut in debt capital markets. The debt financing round was led by private equity firm Eldridge.

The company declared that the increase, which provides The DCG, endowed with a credit facility allowing it to draw down as needed, “reinforces the strategic, operational and financial capacities of the DCG” by lowering its cost of capital and by boosting the development of its investment portfolio and 100% owned companies.

An additional $ 600 million for @LunoGlobal parentco @DCGco to help us upgrade the world to a better financial system. Let’s go! https://t.co/awiAWjX3kL

– Marcus (@marcswane) November 18, 2021

Davidson Kempner Capital Management, Francisco Partners and Capital Group were among the investors in the round. The company intends to use the new cash injection to grow its investment portfolio and wholly owned operations, according to DCG.

The Digital Currency Group is a major player in the crypto space. Grayscale Investment, which is managed by DCG, manages over $ 50 billion in assets. In mid-October, DCG chief Barry Silbert said the company was considering switching to a cash-settled ETF.

Related: Greyscale Parent Company Expands GBTC Purchase Allocation to $ 1 Billion

The increase comes two weeks after DCG sold $ 700 million in shares led by a pair of SoftBank funds. The sale brought the company’s value to $ 10 billion. In an interview with the Wall Street Journal, Adam Silbert declared that the investment was not intended to raise funds for DCG, but rather “an opportunity for early investors to come out and take profits”. The company claimed that all the money raised went to the selling shareholders, with none of them selling their entire stake.