Fonte Capital participated in the IPO of BitGo Holdings Inc.
Fonte Capital participated in the initial public offering (IPO) of BitGo, a leading global provider of institutional-grade digital asset custody, wallet, and security infrastructure. The IPO took place on January 22 on the New York Stock Exchange (NYSE). The transaction was carried out through the investment fund Fonte Value Fund, which became a direct shareholder of BitGo.
The IPO attracted strong demand from a global base of institutional investors and was reported to be oversubscribed, raising a total of US$212.8m and valuing the company at US$2.08bn. Goldman Sachs acted as the lead bookrunner, while Citigroup served as a joint bookrunner for the offering.
Founded in 2013, the company is now one of the largest digital asset custodians, providing the highest level of protection for crypto assets. The company is in a phase of active growth: according to the company’s preliminary estimates, revenue for 2025 was set to exceedUS$16bn, which is five times higher than its 2024 revenue. Assets on the platform amount to approximately US$104bn, and the client base includes around 5,000 clients. One of BitGo’s key advantages is its strict compliance with the requirements of leading regulators in the United States and other jurisdictions, including Singapore, Switzerland, the European Union (Germany, Denmark), and the United Arab Emirates (Dubai). The company’s decision to go public reflects its commitment to maximum transparency and accountability, further strengthening its status as a regulated and reliable custodial provider, as well as demonstrating confidence in the sustainability of its business model.
Fonte Capital’s participation in such a transaction as part of the global IPO of one of the world’s leading custodial providers reflects the company’s approach to the development and implementation of investment decisions, not only to the creation and management of investment funds, but also to its role as an institutional participant in significant events on international capital markets.
“For Fonte Capital, this marks our first participation in the IPO of a global company. The transaction was successfully completed and provided us with valuable experience of working with leading global investment banks. We view it as an important milestone in the development of our strategy and as a foundation for further participation in international IPOs. I would like to thank the partners and investors of the Fonte Value Fund for their trust and support,” commented Yerzhan Mussin, CEO of Fonte Capital.