Crypto venture capital funding has reached $1B for the second consecutive month
Crypto venture capital has topped $1 billion for the second consecutive month this year.
April's $1.02 billion in funding came from 161 investment rounds in April, down slightly from $1.09 billion from 186 rounds in March, according to RootData.
However, from October-November 2022 It is the first time the industry has recorded two direct financings of more than $1 billion.
Among the most notable fundraisings are a $47 million investment led by BlackRock into real-world asset token firm Securitize and a massive $225 million investment into Monad, the newly dubbed “Solana killer” layer-1 blockchain venture backed by Paradigm and Coinbase.
Blockchain infrastructure startup Oradin and Cosmos-based layer-1 blockchain BeChain have secured $80 million and $100 million in funding, respectively.
Blockchain infrastructure firms received the most capital funding by 2024 at $1.7 billion, while decentralized finance protocols were second at $626 million.
Decentralized autonomous organizations were funded, receiving only $3 million so far in 2024.
More than $3.67 billion in funding has poured into the industry through 604 funding rounds so far in 2024, on track to clear the $9.3 billion raised by 2023.
More than $100 billion in funding has now flowed into the blockchain industry in 5,195 funding rounds since June 2014, according to Defillama.
Related: Crypto VC Funding Grows 53% in March, Optimism Wins Largest Share
It comes as venture capital firms Pantera Capital and Paradigm seek $1 billion and $850 million respectively for new cryptocurrency funds.
The $1-billion round from Panther Capital will be the largest for the cryptocurrency industry since May 2022, when Silicon Valley-based venture capital firm Andreessen Horowitz ( a16z ) raised a record $4.5 billion.
Interestingly, a16z said in May that it had raised $7.2 billion to invest in various tech sectors, including artificial intelligence and gaming — but it was not selected to fill a cryptocurrency-focused fund.
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