Prices are Down but Funding is Up Array ( [cookie] => 88f86a-bc2148-6126f9-f188f7-b09cf2 [current_usage] => 2 [max_usage] => 2 [current_usage_crypto] => 1 [max_usage_crypto] => 1 [lock] => 1 [message] => [error] => [active_member] => 1 [subscriber] => 0 [role] => fsi_pro [visitor_id] => 556868 [reason] => [method] => ) 1
Funding increased from a slow week last week from $260M to $422M. As we’ve seen all month, crypto infrastructure remains the leading interest for VCs. Infrastructure accounted for nearly half of all funding at $208M and comprised 11 of the 24 deals this week. The largest of these infrastructure deals was Sardine, a platform that provides real-time fraud prevention services for web3 and fintech companies. Sardine raised $51.5M in a Series B round led by VC giant Andreesen Horowitz. Metaverse/Gaming also had a good week, with funding increasing from $8MM last week to $86MM this week, with four total deals. Overall, each segment this week had a bump in funding from the previous week aside from NFTs, which received no funding this month.
There was one web3 related fund raised this week – Digital Transformation Capital Partners (DTCP), which raised its Growth Equity III fund of €300M from investors such as Deutsche Telekom and SoftBank. DTCP plans to invest in cloud-based enterprise software and SaaS companies in the fields such as cybersecurity, web3, AI, and fintech.
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