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Crypto Venture Capital Funding Exceeds $1 Billion for Second Consecutive Month
For the second month in a row, crypto venture capital funding has exceeded the $1 billion mark, showcasing sustained investor interest in the industry. In April, data from RootData revealed $1.02 billion in funding spread across 161 investment rounds, slightly lower than March’s $1.09 billion across 186 rounds.
Key Fundraisings in April
- A $47 million investment led by BlackRock into Securitize
- A $225 million investment into Monad, backed by Paradigm and Coinbase Ventures
- An $80 million injection into blockchain infrastructure startup Auradine
- A $100 million investment into Cosmos-based layer-1 blockchain Berachain
Blockchain infrastructure firms dominated funding in 2024, securing $1.7 billion, followed by decentralized finance protocols at $626 million. Decentralized autonomous organizations received the least funding, with only $3 million so far this year.
Venture Capital Funding Trends
The momentum in venture capital funding reflects a broader trend of growth within the blockchain industry. With over $3.67 billion already invested across 604 funding rounds in 2024, the year is on pace to exceed the $9.3 billion raised in 2023.
Since June 2014, the blockchain industry has seen over $100 billion in funding across 5,195 rounds. The surge in funding aligns with the ambitions of major VC firms like Pantera Capital and Paradigm, both aiming for substantial sums for new cryptocurrency funds.
VC Funding Surges in Q1
VC funding in the crypto space experienced a surge in the first quarter of 2024, breaking a two-year downtrend. The total amount invested and the number of projects receiving VC funding have seen substantial increases since Q4 2023.
Web3 startups secured just under $1.9 billion in funding across 346 deals in the first quarter of 2024, marking a significant 58% increase from the previous quarter. Analysts predict crypto funds could reach $500 billion to $650 billion within the next five years, a substantial leap from the current valuation of approximately $50 billion.
Ian is a cryptocurrency enthusiast blending humor with professionalism. With an engineering background and a storyteller's heart, he simplifies the blockchain world with sharp analysis and a touch of wit. At Cryptowire, he brings his unique perspective to make digital financial innovation accessible to all.
