Bloomberg Law
March 17, 2022, 3:09 PM

Andreessen, Eldridge Value Cross River Bank at Over $3 Billion

Gillian Tan
Gillian Tan
Bloomberg News

Cross River Bank, a regional lender that serves some of the biggest U.S. financial-technology startups, is close to a deal to raise more than $600 million, giving the company a valuation of more than $3 billion, people with knowledge of the matter said.

Todd Boehly’s Eldridge Industries and Andreessen Horowitz are poised to co-lead the funding round, which is set to include participation from T. Rowe Price Group Inc. and Alex Sacerdote’s Whale Rock Capital Management LLC, said some of the people, who asked not to be identified discussing private talks.

A representative for Fort Lee, New ...