Q2 2024 Funding Report
Key Takeaways
- Slight Increases in Q2: Q2 2024 saw a 12% increase in fundraising and a 4% increase in deal count compared to Q1, totaling $2.46 billion in funding across 383 deals. Q2 marked the second consecutive quarter with over $2 billion in cumulative funding and over 350 deals.
- Deal Count Surpasses 2021 Levels: Although deal sizes remain suppressed compared to 2021 and 2022, Q2 and 1H deal counts surpassed that of 2021, speaking to a purge of frothy valuations but continued growth in developer activity.
- Infrastructure Remains King: Infrastructure projects continue to dominate from both a fundraising and deal flow perspective. Infrastructure deals garnered approximately $1.3 billion in fundraising across 158 deals, over 3.5x the next largest category.
- Smaller Valuations: Only six projects achieved valuations greater than $100m in Q2, compared to fourteen in Q1. Similarly, only Monad and Humanity Protocol received $1+ billion valuations in Q2, whereas four projects accomplished that feat in Q1.
- Series A Rounds Represent 36% of Funding: Series A rounds were a bright spot for Q2, totaling $877 million in investment across 34 rounds. Most of the largest deals this quarter fell into the Series A bucket, with 11 out of the top 20 deals being Series A investments.
Key Slides from This Report
Click HERE the full report.
Quarterly Funding
![Q2 2024 Funding Report](https://cdn.fsinsight.com/wp-content/uploads/2024/07/image-48-1024x576.png)
Deal Vertical Summary
![Q2 2024 Funding Report](https://cdn.fsinsight.com/wp-content/uploads/2024/07/image-49-1024x576.png)
Deal Stage Summary
![Q2 2024 Funding Report](https://cdn.fsinsight.com/wp-content/uploads/2024/07/image-52-1024x576.png)
Largest Valuations
![Q2 2024 Funding Report](https://cdn.fsinsight.com/wp-content/uploads/2024/07/image-53-1024x576.png)
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...
WEEKLY RECAP This week’s $113 million in funding was less than half of last week’s $242 million, although the deal count showed a more modest 17% drop to 30 deals. Infrastructure continues to be the most popular investment category. Infrastructure’s $66 million in funding was stapled by Nexus Labs and Nuffle Labs’ $25 million and $13 million respective investment rounds. After tallying a few deals in the previous two weeks,...