Viking Investments has invested in Blackstone Investment, which will continue to hold a minority stake in Blackrock.
Viking Investments said that it expects to make $250 million in annual revenue for the Viking investments, and that the investment will contribute to Blackstone’s ongoing efforts to grow the company.
Blackstone has been steadily growing its presence in the blockchain space, particularly with the addition of Coinbase.
The company’s blockchain-focused venture, Blackrock, was recently valued at $1.5 billion by the NASDAQ and will continue its expansion into other areas including smart contracts, financial institutions and digital assets.
Viking said that its investments in Blackwater were not related to Blackrock’s role in the company, but instead, Blackstone was one of many “potential partners” that it had in mind when they approached the company in 2014.
Blackrock has become one of the biggest players in the crypto-crypto space with its acquisition of ShapeShift.