📊 Circle Hits $44.4B Market Cap — DCG, IDG, Accel Likely Biggest Winners

@circle (NYSE: CRCL) recently hit a share price of $199.59, bringing its total market cap to $44.4 billion. Early investors have reaped substantial returns. According to RootData’s funding records and Circle’s IPO prospectus:

@Accel and @generalcatalyst enjoyed key early access. Their Series A investment ($9M) came in at a very low valuation (likely only a few million USD), generating a nominal multiple of over 4000x at current valuation — though the IPO filing shows significant dilution of their holdings.

@IDGCapital, a key early Chinese investor in Circle, participated in Series C, D, and E — likely affected by dilution. However, post-IPO, IDG still holds 10.4% of Class A shares, ranking first. They are followed by General Catalyst (10%), Breyer (6.7%), and Accel (5.4%). Circle co-founders Jeremy Allaire and P. Sean Neville hold 78.9% and 21.1% of Class B shares respectively.

@DCGco previously invested $25M in Circle and supported USDC via Genesis Trading. Though the valuation at the time wasn’t disclosed, estimates suggest it ranged from $3B–4.5B. Assuming a $3.5B valuation at entry, DCG’s investment has potentially returned 12.6x at the $44.4B peak. With low entry cost, long-term holding, and early conviction, DCG likely stands among the biggest winners of Circle’s public market debut.