Venture capital firm Molten reports successful fundraise for one of its crypto investments

The round maintains Ledger's valuation at €1.3bn, Molten said in a statement, and was well supported by new and existing investors.

Molten participated in the funding round alongside new investors True Global Ventures, Cite Gestion, Digital Finance Group and VaynerFund.

Existing investors 10T, Cap Horn, Morgan Creek, Cathay Innovation and Korelya Capital also continued their support.

Ledger has sold over six million devices, securing more than 25pc of the world’s cryptocurrencies and over 30pc of the world’s non-fungible tokens, Molten said.

The latest funding round will allow Ledger “to further its global ambitions and accelerate its drive to support blockchain innovation” the company said.

The closure of the round follows fundraising for other firms in the Molten portfolio, including satellite launch service company Isar Aerospace and metaverse startup Hadean.

“This latest round is testament to the strength of Ledger’s business and its revolutionary technology that will continue to play a critical role in the future of crypto assets and blockchain,” said Molten Ventures’ chief executive Martin Davis.

“Together with Isar Aerospace and Hadean, all three rounds demonstrate the quality of our portfolio, and the ability of our companies to maintain or increase valuations and attract financing even in challenging environments.

Top executives at Irish-listed Molten Ventures recently bought shares in the company after reassuring investors that its funding line with the UK arm of collapsed US lender Silicon Valley Bank (SVB) was secure.

Banking giant HSBC purchased the SVB’s UK business, which is one of Molten’s main bankers.

Mr Davis and Molten’s chief financial officer Ben Wilkinson bought a combined £45,000 worth of stock in separate transactions earlier this month, according to stock market filings, after shares in the firm fell following SVB’s failure.

Molten’s most recent financial results show a 12pc portfolio fair value reduction in the six months to September last year in the face of what it said were challenging market conditions for tech companies.