New CeFi Entities Emerging
Weekly Recap
Total funding rose 58% this week from $128 million to $203 million, while total deals ticked up to 29 compared to last week’s 26. Infrastructure was the dominant category, representing 64% of funding and 55% of deal count. There were five CeFi deals this week (including our DotW), one of the higher totals for the category in recent weeks. Seed rounds amassed a staggering $92 million in funding across 13 deals, with an average deal size of $7.1 million. For comparison, the average deal size across all 2023 Seed rounds was $5.6 million, potentially signaling increased appetite for early-stage projects. The $60 million in the Token Sale category came from a new fundraising method known as “node sales,” where projects auction off licenses to run network nodes in exchange for discounted future tokens, increasing network participation and generating capital.