ARK Raises New Crypto Fund and VCs Target Infrastructure
Mar 17, 2023
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Funding dropped this week from $312M to just $99M. As we've seen all month, funding remains primarily concentrated in Infrastructure and Web3, which raised $37M and $28M, respectively. Infrastructure accounted for 9 of this week's 21 deals, and Web3 & NFTs accounted for 6. DeFi remains a laggard this week, receiving just $6M of funding
One major crypto fund was raised this week –Cathie Wood's ARK's Crypto Revolutions Fund, which raised over $16M. The fund is split between a fund based in the U.S., which raised ~$7.2M from nine investors, and a fund based in the Cayman Islands, which ...