Venture Funding Hits Yearly Lows, but CeFi Remains Resilient
Venture funding slid lower this week, with the lowest weekly amount of money raised all year. There were 28 deals, raising a total of $410M. Despite general VC funding weakness, CeFi funding has been resilient and had made up roughly ~60% of funding for the week at $235M, an increase from last week's CeFi financing of $190M. DeFi came in second for the most funding and rose from $10M to $88M compared to last week. Other sectors such as Infrastructure, Web3, and NFTs all dropped in funding. Metaverse/Gaming has seen the most significant reduction so far in June, received no funding in the past two weeks. Despite the lack of funding for most projects this week, there were multiple large crypto funds raised, including Valkarie Investments ($11M), Cathay Innovation ($110M), Solana Ventures ($100M), and Felix Capital ($600M).
Similar to last week, the majority of the deal-making occurred in early stages. Pre-seed, Seed, and Series A Deals made up 15%, 45%, and 35% of deals, respectively
Deal of The Week
Pintu is Indonesia’s leading crypto exchange that allows Indonesian crypto investors to on-ramp and off-ramp to crypto and offers them over 50 different crypto assets. Other features of the app include Pintu Earn which offers up to 15% APY, and Pintu Academy, an edu...Reports you may have missed
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