Web3 Funds Load up on Dry Powder

Despite a cold start in the first week of 2023, funding has ramped back up, increasing from just $7M in the first week of 2023 to $65M and $186M in the last two weeks, respectively. The majority of this funding came from Web3 and NFTs, which accounted for roughly $80M each week. There were also four Web3 and NFT related venture funds the past two weeks, totaling a massive $1.85B in funding. The largest of these funds was Venum Venture Funds (VVF), which raised $1B. VVF was founded by the Venom Foundation and Iceberg Capital and is planning to invest in pre-seed to Series A rounds for Web3 prot...