Funding the Multi-Chain World

Weekly Recap

Funding has fallen to $68 million after a strong week of funding saw teams raise $117 million to start the quarter. The average deal size across both weeks was ~$6 million, and deal count fell from 15 to 12. The largest raise came from crypto prime broker Membrane Labs, which closed $20 million in their Series A round from several noteworthy investors, including Brevan Howard Digital, Point72 Ventures, and others like Jane Street and Two Sigma Ventures. Membrane is an institutional crypto trading and lending platform. Their infrastructure supports clearing, settlement, and workflow...