Infrastructure Carries Venture Funding

Name: FS Insight
Price range: $$$

Sep 9, 2022 • 4 Min Read

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Funding had one of its best weeks of the past couple of months, with funding increasing 81% from last week to $574M. This increase was almost entirely due to an outstanding week from infrastructure – which accounted for $482M of funding and consisted of 8 deals. The largest of these deals was a raise for Mysten Lab’s Sui Blockchain, which we delve deeper into in the Deal of the Week section. This week's infrastructure funding was a massive increase from last week, which only had $21M of funding. Other sectors lagged – with each receiving $25M or less in funding. Web3 had the sharpest drop, decreasing from $66M to $9M.

Two crypto funds were raised this week – Bloccelerate’s second fund and MetaWeb Ventures first fund. Bloccelerate’s fund is looking to raise $100M and has currently raised $20M of its target. MetaWeb Ventures, which plans to invest in early-stage Web3 companies, raised $30M from a number of LPs, including the NEAR Foundation, Sequoia Capital, Dragonfly Capital, and GSR Markets, among others.

The majority of deals remain in the early stages (Seed Round deals accounted for 38.9% of total deals). However, we have seen an uptick in later-stage deals: Series A accounted for 22.2% of deals, and Series B and S...

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