Encrypted Friendly Bank Erebor is looking for $1.5 billion in financing, a16z, etc

On 11 August, the encrypted and friendly bank Erebor Bank, a co-founder of Oculus and founder of Anduril, and co-founder of Palantir, Joe Longdale, was seeking $1.5 billion in financing, with a pre-investment valuation target of $8 billion, which was close to double the $435 million valuation when the company completed its financing of $350 million in December 2025. At present, Erebor has been supported by investment institutions such as 8VC and Haun Ventures, and it is expected that the new round of finance will also involve institutions such as Lux Capital, Andressen Horowitz (a16z), Human Capital, Valor Equity Partners and SV Angel. As AI infrastructure investment enters a high level of expansion, Erebor is targeting AI corporate financing needs. AI requires significant funding for the procurement of GPUs, the construction of data centres and access to energy, while traditional financial institutions are gradually exploring financing models for AI infrastructure assets. However, the future ability of Erebor to sustain high growth after the cooling of the AI and encryption cycles will remain the focus of market attention. The round is not yet finalized and is expected to be completed in the coming weeks。