Ken Griffin’s Citadel Securities valued at $22bn in trading firm’s first external funding round

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Citadel Securities, the market maker founded and controlled by the hedge fund billionaire Ken Griffin, has been valued at almost $22 billion in its first external funding round.

The trading business has sold a minority stake for $1.15 billion to Sequoia Capital, the Silicon Valley venture capital firm, and Paradigm, a cryptocurrency-focused investment group.

The company will be able to utilise the capital to continue expanding around the world, it told The Wall Street Journal, which first reported the fundraising.

Griffin, 53, founded the hedge fund Citadel three decades ago. Citadel Securities, a separate business, was founded in 2002 and provides trading services to asset managers, banks, broker-dealers and hedge funds. Its institutional business serves more than 1,600 clients, including central banks and sovereign