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
Deal Vertical Summary
Deal Stage Summary
Largest Valuations
Reports you may have missed
MONTHLY RECAP February showed a modest increase in funding amount and deal count compared to January. Total funding rose 7% to $1 billion, and deal count increased 8% to 116 deals. Infrastructure was the leading category, with $388 million raised across 58 deals. CeFi has had its third consecutive month of nine-figure investment with less than 10 deals. The largest raise in February was a $200 million undisclosed round completed...
MONTHLY RECAP 2025 started on a strong foot, with January funding rising 5% month-over-month to $938 million from $895 million in December, while the deal count decreased 8% from 116 to 107. Infrastructure was the leading category of January, totaling $628 million in funding across 64 deals, representing 67% of total funding and 60% of total deal count. Although there were only six CeFi deals in January, it was the...
WEEKLY RECAP As expected, funding totals during the holidays were comparatively low. Both total funding and deal count fell by approximately 70%. There were 11 deals this week totaling $45 million in funding. All disclosed funding amounts fell into the Infrastructure and DeFi categories, while Web3 tallied two deals for undisclosed amounts. Infrastructure-led deal counts among categories (7), and there were no CeFi or Gaming deals to end the year....