Shearman & Sterling advised Intercontinental Exchange (ICE) and BAKKT Holdings in connection with BAKKT’s formation and initial equity financing of $182.5 million from an investor  syndicate including ICE; Boston Consulting Group; CMT Digital; Eagle Seven; Galaxy Digital; Goldfinch Partners; Alan Howard; Horizons Ventures; Microsoft’s venture arm, M12; Pantera Capital; PayU, the fintech arm of Naspers; and Protocol Ventures. 

BAKKT will use the proceeds from the financing to build its cryptocurrency offerings.

The team