Citadel Securities just raised $1.15 billion: detailed here

on Jan 11, 2022
  • Sequoia and Paradigm invested $1.15 billion in Citadel Securities.
  • The market maker will use the capital to expand its global footprint.
  • Sequoia Capital's Alfred Lin will join the board of Citadel Securities.

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Citadel Securities received its first outside investment that valued it at nearly $22 billion, said the Wall Street Journal on Tuesday.

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Citadel Securities raised $1.15 billion

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Venture capital companies, Sequoia and Paradigm, took a minor stake worth $1.15 billion in Citadel Securities this morning. The market maker is majority-owned by the American hedge fund manager, Kenneth Cordele Griffin.

According to the WSJ report, Citadel Securities handles roughly 27% of shares that change hands in the U.S. stock market every day. The electronic trading company offers services to online brokerages like Robinhood Markets Inc and also to hedge funds, banks, and asset managers.

Last week, billionaire investor Cathie Wood loaded up on Robinhood shares as the crypto-related stocks took a hit amidst the sell-off in Bitcoin that pushed it down to $40,000 again.  

Sequoia won a seat on Citadel Securities’ board

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Having led the funding round, Sequoia also won a seat on the board of Citadel Securities and named its partner, Alfred Lin, to the financial company’s board on Tuesday. It’s one of the largest venture capital companies in the U.S., with close to $80 billion under management.

Citadel Securities competes with the Wall Street banks in the financial space. It has a footprint in more than fifty countries already, and the raised capital opens new doors for it to further expand globally. Its institutional business already has a client base of over 1,600.

The deal, as per the Chicago-based company, could precede a listing on the stock exchange. It, however, confirmed it was only a possibility, and no such plans were in the pipeline at this point in time.


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