ARK Raises New Crypto Fund and VCs Target Infrastructure
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 raised ~$9M from one investor. This raise comes just after the ARK Innovation ETF received a whopping $397M of inflows last Friday, its largest influx since April 2021.
Most deals this week were done in the early stages, with 53% in seed or pre-seed rounds.
Selected Deals
Jungle is a Web3-based gaming studio aiming to acquire undervalued intellectual property. This allows the studio to bypass the development process for gaming titles, which can expedite releases by up to three years. The company has secured $6M in funding through its seed round, co-led by Framework Ventures and Bitkraft Ventures. The funding round included investor participation from Delphi Digital, Stateles...Reports you may have missed
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...
WEEKLY RECAP Despite a short week in observance of Good Friday, weekly funding rose 17% from $228 million to $268 million across 31 deals. March funding totaled $960 million (with three days remaining), representing the highest figures since March ’23. Monthly deal count has reached 142 thus far, similarly marking the highest tally since 2022. Gaming companies had a strong week of funding, raising $114 million, being slightly edged out...
Articles Read 1/1
🎁 Unlock 1 extra article by joining our Community!
You’ve reached your limit of 1 free monthly articles. Please enter your email to unlock 1 more articles.
Already have an account? Sign In 3207b6-6b3fec-f65fa0-fc4e15-a70cde
Already have an account? Sign In 3207b6-6b3fec-f65fa0-fc4e15-a70cde