Infrastructure & Web3 Maintain VC Attention
Compared to last week, funding has decreased $159 million from $474 million to $315 million, representing a 33% weekly decrease. Infrastructure continues to be a highlight of fundraising, accounting for almost a third of the total amount raised this week. Web3 was also a strong category this week, raising $51 million across four deals. Space and Time is tied for the largest web3 deal this week, raising $20 million in a strategic investment round led by Microsoft’s M12 Fund. Space and Time seeks to become a decentralized data warehouse to power the trustless web.
It was a robust week for crypto fund & ecosystem raises. A total of $865 million was raised across four different deals. The largest deal was London-based Fasanara Capital, which raised a $350 million venture capital fund dedicated to finding pioneers in web3 and fintech. Fasanara capital has over $3.5 billion in AUM and additionally has a team devoted purely to arbitrage trading and lending of digital assets.
Early-stage deals continue to make up the majority of fundraises. Seed rounds and Series-A rounds accounted for 60% of deals this week. There was an uptick in strategic rounds this week, totaling 20% of all deals compared to 0% in each of the previous two weeks.
Deal of The Week:
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