Citadel Securities said on Tuesday venture capital firm Sequoia Capital and crypto-focused investment company Paradigm had made a $1.15bn minority investment in it, giving the market maker founded by billionaire Ken Griffin a valuation of nearly $22bn.
The restrictions, which drew the ire of some retail investors, followed a stunning rally that sparked a “short squeeze”, leading to billions of dollars in losses for Wall Street hedge funds.
Citadel, the $43 billion hedge fund, had made a $2 billion investment in Melvin Capital at the time, after the latter, which had been short on GameStop since 2014, suffered massive losses.
Read more: Reuters