Venture Funding Hits Yearly Lows, but CeFi Remains Resilient
Venture funding slid lower this week, with the lowest weekly amount of money raised all year. There were 28 deals, raising a total of $410M. Despite general VC funding weakness, CeFi funding has been resilient and had made up roughly ~60% of funding for the week at $235M, an increase from last week's CeFi financing of $190M. DeFi came in second for the most funding and rose from $10M to $88M compared to last week. Other sectors such as Infrastructure, Web3, and NFTs all dropped in funding. Metaverse/Gaming has seen the most significant reduction so far in June, received no funding in the past two weeks. Despite the lack of funding for most projects this week, there were multiple large crypto funds raised, including Valkarie Investments ($11M), Cathay Innovation ($110M), Solana Ventures ($100M), and Felix Capital ($600M).
Similar to last week, the majority of the deal-making occurred in early stages. Pre-seed, Seed, and Series A Deals made up 15%, 45%, and 35% of deals, respectively
Deal of The Week
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WEEKLY RECAP Weekly funding fell by 34% from $126 million to $83 million, while deal count rose approximately 22% from 18 to 22. Infrastructure was the leading category, totaling $51 million across nine deals and comprising 61% of total funding. CeFi logged its second consecutive week of two deals, including Caliza’s $8.5 million investment round supporting its mission to provide cross-border remittances leveraging stablecoins. Web3 and Gaming deal flow has...
WEEKLY RECAP In the final week of Q2, crypto funding bounced back, rising 64% from $78 million to $128 million, while deal count rose modestly from 18 to 20. The funding total was dominated by Infrastructure, which comprised 88% of the total and also made up 55% of the total deal count. CeFi broke its streak of two weeks with no deal flow with a singular Series A round completed...
WEEKLY RECAP Private funding was suppressed as we enter the summer season, with total funding dropping 43% week-over-week to $66 million and deal count decreasing 52% to 15 deals. Infrastructure still took the top spot from a funding perspective, totaling $31 million across three deals, including Sonic, our Deal of the Week. DeFi tallied the most deals (6) and had the second most funding across categories ($24m). CeFi had its...
