CeFi Continues Its Streak
Weekly Recap
Total funding fell 29% week-over-week from $221 million to $158 million, while deal count rose about 14% from 22 to 25. This week marks the third consecutive week with triple-digit total funding and over 20 deals, potentially signaling increasing appetite in the private market. Infrastructure and CeFi were the leading categories, raising $76 million and $50 million, respectively. CeFi deals struggled in 2023 but have been a strong category through the first month of 2024 as investors bet on companies that will onboard users to crypto.
From a deal stage perspective, Seed rounds were the most popular, representing 36% of total deals and 32% of total funding. There was one Series B round completed by EDX Markets – a digital asset exchange backed by Citadel - for an undisclosed amount with investment from Pantera Capital and Sequoia Capital. Strategic rounds had the highest average deal size at $21.4 million, largely attributable to our Deal of the Week, Sygnum.
Funding by Category
Funding by Deal Stage
Deal of the Week
Global digital asset banking group, Sygnum, raised $40 million in a strategic round, valuing the company at $900 million, marking the second largest valuation of 2024 thus far. Azimut Holdings, an asset managem...Reports you may have missed
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