Venture Funding Plummets
This week was a slow one in venture capital funding. Funding fell to the lowest levels we've seen all year at $111M, with only 13 deals completed. This is a 64% decrease from $306M in funding last week, and a 60% decrease in deals from 32 last week. CeFi and NFTs saw slight increases in funding from last week while each other sector declined. The largest drops were in the Infrastructure and Metaverse/Gaming segments, which were the highest funded last week. While recent funding has been slow, it's important to note that the first half of the year for 2022’s crypto funding has already exceeded total funding for 2021. According to Dovemetrics, crypto funding for the first half of 2022 was $1.79 billion, exceeding 2021's full year crypto funding of $1.65 billion. Also worth mentioning is that projects may be waiting until the end of the summer to announce or close recent deals.
Despite the lack of venture deals this week, crypto funds raised $525M. The crypto funds included Coinfund, Shima Capital, and Superlayer. The largest of the funds raised was Coinfund's Venture Fund I, which raised $300M to invest in early-stage crypto projects. Coinfund plans to invest $6-$10M across 30-40 companies. Also notable was venture capital firm Dragonfly acquiring Met...Reports you may have missed
WEEKLY RECAP Crypto funding was relatively unchanged week-over-week, with a 4% decrease to $138 million, while deal count saw a larger decrease, falling 29% to 25 deals. Infrastructure deals comprised 73% of total funding and Web3 and Gaming combined for 26%, with remaining categories making up the last 1%. As highlighted in our Q1 Funding Report, Series A funding has been a standout deal stage this year, and this week...
WEEKLY RECAP Crypto funding rose 92% from $213 million to $410 million, one of the highest weekly totals in months. The majority of funding came from two deals: Monad’s $225 million round (DotW) and Auradine’s $80 million Series B round, the first mining deal of 2024. Auradine’s Teraflux family of Bitcoin ASIC miners has set new performance and energy efficiency benchmarks and has shown robust field performance, which has helped...
WEEKLY RECAP Funding fell 27% from $282 million last week to $206 million this week across 34 deals. Triple-digit funding seems to be the new normal, as there has been a notable uptick in the private market in recent weeks. Despite the overall increase in activity, there has been a lack of CeFi-related projects in recent weeks, with just one deal in each of the last two weeks. Agora was the singular...
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