Web3 Takes The Lead
Funding for this week has seen a dramatic decrease compared to last week. Total funding fell 53% to $154 million compared to $328 million last week. Web3 was the winning category of funding deals representing 75% of all capital raised, breaking the pattern of infrastructure being the dominant category over the prior two weeks. Horizon Blockchain Games tied for the largest deal this week, raising $40 million in a Series-A deal. Horizon is a blockchain game developer best known for its game Skyweaver and plans to use the funds to grow its product offerings and scale operations.
It was another strong week for crypto funds & ecosystem raises. $820 million was raised across two deals, with the lion’s share coming from a $720 million fundraise by NYDIG for its Institutional Bitcoin Fund. 59 investors contributed to the raise, and NYDIG plans to continue its goal of making “Bitcoin a universal option for billions of people worldwide.”
Seed-round deals accounted for almost half of all deals this week. The percentage of seed-round deals has increased steadily since the week of 9/23. Although there was a large uptick in strategic deals last week, there were zero strategic deals this week.
Deal of the Week:
Golden, a large-...Reports you may have missed
WEEKLY RECAP As expected, funding totals during the holidays were comparatively low. Both total funding and deal count fell by approximately 70%. There were 11 deals this week totaling $45 million in funding. All disclosed funding amounts fell into the Infrastructure and DeFi categories, while Web3 tallied two deals for undisclosed amounts. Infrastructure-led deal counts among categories (7), and there were no CeFi or Gaming deals to end the year....
WEEKLY RECAP Crypto funding saw a large jump week-over-week, increasing 83% from $231 million to $424 million, and total deal count rose by 21% from 28 to 34. The large funding total was helped by a $250 million token sale completed by Avalanche ahead of its Avalanche9000 upgrade. Infrastructure dominated amongst categories, totaling $354 million across 21 deals, making up 84% of funding and 62% of total deal count. The...
WEEKLY RECAP Crypto funding rose 60% week-over-week from $145 million to $232 million, while total deal count decreased 7% from 29 to 27. CeFi was the leading funding category, totaling $145 million across three deals and comprising 63% of all funding. The total was bolstered by Public’s $130 Series D round, representing only the second Series D round in 2024. Although CeFi has been a laggard category all year, three...
WEEKLY RECAP Despite liquid crypto prices rising, private market funding remains lackluster thus far in Q4. Aggregate funding fell 29% week-over-week, decreasing from $155 million to $109 million, while deal count fell by over 31% from 22 to 15. Infrastructure was the leading category from both a financing and deal count perspective and included our Deal of the Week, Noble. The largest deal was Monkey Tilt, which raised $30 million...
