# Silvergate: Investment management, San Diego, United States

> Silvergate: Silvergate Bank, formerly known as Silvergate Capital Corporation, was a California-based bank founded in 1988 and headquartered in La Jolla...

Source: https://millionrounds.com/startup/silvergate (Millionrounds; every figure on the page links to its filing or article)

United States · [Investment management startup](https://millionrounds.com/companies)

# Silvergate

Silvergate Bank, formerly known as Silvergate Capital Corporation, was a California-based bank founded in 1988 and headquartered in La Jolla, San Diego.

Funding reported Last round: Venture (Round not Specified)

Investment management San Diego, United States

Company summary

- **Founded:** 1988 38 years old
- **Team:** 110 51 to 200 people
- **Funding reported:** $114M in dollars
- **Last round:** Venture (Round not Specified) Feb 2018

How sure we are

- ✓ **Listed** We know it exists and what it does
- 2 **Funding reported** A company dataset reports a raise
- 3 **Observed** A filing or a dated announcement confirms a round

No round for Silvergate has been confirmed by a filing or an announcement yet, so nothing here counts toward an investor's record. [How we decide](https://millionrounds.com/methodology)

## About Silvergate

Silvergate Bank, formerly known as Silvergate Capital Corporation, was a California-based bank founded in 1988 and headquartered in La Jolla, San Diego.

Initially a community bank, it shifted its focus in 2013 to serve the digital currency industry, becoming the first U.S. bank to offer specialized banking services for digital asset businesses. The bank conducted an IPO in 2019 and saw significant growth, reaching a market capitalization of nearly $5.7 billion by late 2021. Silvergate's core offerings included the Silvergate Exchange Network (SEN), which allowed institutional clients to settle large cryptocurrency transactions instantly. The bank provided various financial services, including digital currency banking, traditional banking services, and a range of deposit products. It primarily served institutional clients in the cryptocurrency ecosystem, including exchanges, hedge funds, and fintech companies. As of 2023, Silvergate had over 1,600 digital currency customers. However, the bank announced a voluntary winding down in 2023 and entered Chapter 11 bankruptcy in September 2024.

## What company datasets say Silvergate raised

Funding, as reported

Reported in all **$114M** in dollars

Last round **Venture (Round not Specified)**

Last round size **$114M**

Last round date **Feb 2018**

## On 2 portfolio pages

Investors who name them

- [Blockchain Capital](https://millionrounds.com/fund/blockchain-capital)
- [Five Stones Investment Group](https://millionrounds.com/fund/five-stones-investment-group)

Each firm lists Silvergate on its own website. That is the firm's claim, a weaker thing than a round we watched, but a named source.

## The company, in detail

What they build

Known for

health care user experience regulatory investigation closure bank deposit repayment customer engagement personal banking bank liquidation banking regulatory enforcement information technology & services commercial banking financial services finance investment management nyse delisting california dfpi financial institution settlement

Built with from their website

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- **Sector:** Investment management
- **Industry code:** NAICS 522110, SIC 6021
- **Region:** California

## Investment management in United States

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## Is this your company?

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