Venture capital firm Sequoia Capital stands to make approximately $100 million following Stripe’s $1.1 billion purchase of Bridge.

The substantial return is particularly notable in the crypto sector, where venture funding has significantly declined since its peak in 2022.

Other Investors Also Set for Major Returns

According to reports from Bloomberg, Sequoia invested $19 million in Bridge during its Series A funding round that took place less than a year ago. The amount translates to 16% of the stablecoin platform’s ownership, which, when liquidated, could result in a $100 million windfall.

Other firms that invested in Bridge also stand to make significant returns. Ribbit Capital, which holds close to 10% of Bridge, expects a return similar to Sequoia’s. Bedrock Fund Management and Index Ventures hold about 6% each, and Haun Ventures maintains a 4% stake in the company.

Stripe announced its finalized $1.1 billion bid for Bridge on October 20. The platform, co-founded by Sean Yu and Zach Abrams, offers software tools for businesses to process payments in stablecoins. However, the transaction is still pending regulatory approval and is expected to close within the next several months.

The billion-dollar deal comes just half a year after John Collison, co-founder of Stripe, promised that the company would support stablecoins by mid-2024. His firm’s takeover of Bridge ranks as one of the largest in the crypto sector to date.

Crypto VC Funding Dropped 20% in Q3, 2024

According to an October 15 report from Galaxy Digital, crypto venture funding f