This Is Not Biden’s Infrastructure Bill

Key Takeaways

• This week’s venture capital was heavily weighted towards infrastructure projects, with some dabbling into NFTs, Gaming, DAOs, and DeFi. Crypto infrastructure projects raised over $1.3 billion, with interoperability and usability as the biggest attractions in the space. Token sales were effective fundraising instruments this week, raising $85 million for 3 protocols. Signs point to a massive influx of capital in future Funding Fridays, as 3 new funds raised $7.9 billion in capital this week.
  
• Active investors this week include Animoca Brands, Alameda, Dragonfly, and FTX.
  
• Deal of the Week: Checkout.com raised $1 billion, valuing the company at $40 billion, in order to build out products that allow for an individual to entirely cut the cord from fiat currencies.

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Venture Capital Deals

Torus, now Web3Auth, is an authentication infrastructure technology that simplifies the process of saving, protecting, and using private keys for crypto wallets. The company raised $13 million in a Series A round led by Sequoia Capital India, with Multicoin Capital, FTX, Bitcoin.com, and LD Capital participating among many others. The technology breaks up a user’s key into three “secret shares” and distributes them to the user and across the Torus network, and on...