Q1 2023 Crypto Fundraising Report
Apr 25, 2023
Executive Summary
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Crypto VC funding has continued its downtrend since peaking in the beginning of last year. Q1 2023 marked the fourth consecutive quarter of declines in total fundraising amount and deal count. Despite its decline from peak funding levels, the industry has proved its resilience, with funding levels still greater than 4x that of the previous bear market. We will be watching to see if the March U.S. banking crisis will have delayed adverse effects on the private market. Deals have been smaller and concentrated in the early stages, as...