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Citadel Securities valued at $22 billion after investment from Sequoia, Paradigm

Published 12/01/2022, 12:44 am
Updated 12/01/2022, 12:52 am
© Reuters. FILE PHOTO: Ken Griffin, Founder and CEO, Citadel, speaks during the Milken Institute's 22nd annual Global Conference in Beverly Hills, California, U.S., April 30, 2019.  REUTERS/Mike Blake

(Reuters) - Citadel Securities said on Tuesday venture capital firm Sequoia Capital and crypto-focused investment company Paradigm had made a $1.15 billion minority investment in the firm, giving the market maker a valuation of nearly $22 billion.

The round was led by Sequoia. Alfred Lin, a partner at Sequoia, will join the board of Citadel Securities, the company said.

© Reuters. FILE PHOTO: Ken Griffin, Founder and CEO, Citadel, speaks during the Milken Institute's 22nd annual Global Conference in Beverly Hills, California, U.S., April 30, 2019.  REUTERS/Mike Blake

Founded by Ken Griffin, Citadel Securities provides trading services to asset managers, banks, broker-dealers and hedge funds. Its institutional business serves over 1,600 clients.

Last year, the company insisted it did not ask Robinhood (NASDAQ:HOOD) or any other firm to restrict or limit trading on GameStop Corp (NYSE:GME) and other so-called "meme stocks" at the height of the retail-driven trading frenzy in January 2021, after accusations from some retail investors.

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