Crypto VC funding tops $1B for second consecutive month

Crypto VC funding tops $1B for second consecutive month
фото показано с : coinjournal.net

2024-5-6 14:30

Crypto venture fundraising reached $1.02 billion in April, compared to $10.9 billion in March. RootData’s website shows total funding rounds by VCs hit 161 in April, slightly down from 186 the previous month.

Venture capital funding across the cryptocurrency space surpassed the $1 billion mark in April, a feat that means the industry has now hit this milestone for two consecutive months.

According to details on Web3 asset data platform RootData, VC funding in April reached $1.02 billion. This represented amounts raised across 161 rounds.

While April’s total amount raised from venture capital investors did not match the $1.09 billion raised in March, it represents the third-highest mark in the past year. March saw 186 investment rounds, up from 148 in February when VC firms injected over $762 million into crypto projects.

Crypto venture capital fundraising in the past year. Source: RootData

Crypto VC funding year-to-date has seen over $3.67 billion, capturing investments across 639 rounds so far.

The details suggest this year could see VC participation in the crypto space surpass the previous year’s figures in both the amount invested and the total number of crypto projects. In 2023, crypto projects across infrastructure, DeFi, gaming and DAOs recorded over $9.3 billion.

Crypto optimism as VC funding soars

Already, hitting the billion dollar mark for a second consecutive month suggests continued broader optimism from the investment community.

Animoca Brands, Polychain Capital, Paradigm, Coinbase Ventures, Pantera, Binance Labs, Dragonfly and NGC Ventures have been some of the most active players in the space so far this year. a16z also remains a top player in the space.

Among notable fundraises in April was the $47 million investment in real-world asset tokenization platform Securitize. Asset management giant BlackRock led the investment round. Coinbase Ventures and Pardigm backed layer-1 blockchain Monad’s $225 million round.

In terms of funding scale, the vast majority of projects (over 82%) have secured investments of between $1 million and $10 million. However, a total of 74 fundraising rounds have seen investments of more than $10 million.

Of these, nine Web3 startups have attracted more than $50 million each from top VC firms.

The post Crypto VC funding tops $1B for second consecutive month appeared first on CoinJournal.

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