Baillie Gifford, a 110 year-old asset management firm known for its early bets on firms similar Tesla, has invested $100 one thousand thousand in major cryptocurrency wallet service Blockchain.com.

Blockchain.com co-founder and CEO Peter Smith appear Wednesday that Baillie Gifford'due south contribution to its $300 meg funding round in March has get the largest single investment in the visitor so far. Smith stated that Baillie Gifford's participation in the round marked "ane of their commencement investments in a crypto company."

"It's besides a validation that a counterbalanced and diversified retail/institutional business concern has incredible growth potential in the coming years," the CEO wrote.

With over $445 billion in assets under management, Baillie Gifford has emerged as a major tech investor, gaining nigh $28 billion past betting early Tesla and Alibaba, and pharmaceutical visitor Moderna. One of the largest outside Tesla investors, Baillie Gifford reaped a $16 billion turn a profit from its Tesla investment alone as of Baronial 2020. The company is also known for backing companies similar Google, Amazon and Airbnb.

Baillie Gifford'due south bet on Blockchain.com comes amid increasing investor attention to the company and the wider crypto manufacture likewise. United Kingdom-based Blockchain.com is i of the biggest fundraisers this yr, securing $420 million in two funding rounds in Feb and March and bringing the firm to a $five.2-billion valuation.

According to data from business analytics firm CB Insights, crypto and blockchain firms including Blockchain.com, BlockFi and Dapper Labs received more than funding in the starting time quarter of 2021 than over the entire course of 2020.