VC Interest in DeFi Slowly Picking Up
Funding declined this week from $280M last week to just $147M this week. Not surprisingly, most deals were infrastructure-related, something we’ve seen all month. DeFi, which has generally been one of the less funded verticals the last year, has slowly begun to see an uptick in funding. DeFi was the second highest funded vertical in the past two weeks, with $45M and $29M funded. This week’s largest deal, Thetanuts Finance, is in the DeFi vertical as well. Thetanuts Finance is a multi-chain structured products protocol and raised $17M in a round led by Polychain Capital, Hyperchain Capital, and Magnus Capital. Metaverse & Gaming was the next highest funded vertical at $22M while CeFi and Web3 & NFTs lagged, each receiving less than $10M in funding.
Most deals this week (56%) had their deal stage undisclosed, but of the disclosed deals, the majority were Seed Round, at 30%.
Deal of The Week
DFlow, a decentralized marketplace for order flow, announced a $5.5m funding round led by Framework Ventures, with participation from Coinbase, Circle, Cumberland, Wintermute, Spartan Group, and ZeePrime. The funding round was not disclosed, but this follows a $2 million seed round in early 2022 that Multicoin Capital and Framework Ventures co-led. DFlow is a DeFi p...Reports you may have missed
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...
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