Crypto VC Funding Reaches $1B for Second Consecutive Month
2 min read
Crypto VC Funding Reaches $1B for Second Consecutive Month
For the second month in a row, crypto venture capital funding has exceeded $1 billion. In April, there was a total of $1.02 billion invested across 161 funding rounds, a slight decrease from the $1.09 billion raised in March across 186 rounds. This is the first time since October-November 2022 that the industry has experienced two consecutive months of fundraising above $1 billion. Notable fundraises include a $47 million investment led by BlackRock into real-world asset tokenization firm Securitize, as well as a $225 million investment into Monad, a new blockchain called a “Solana killer,” with backing from Paradigm and Coinbase Ventures. Blockchain infrastructure startup Auradine and Cosmos-based blockchain Berachain also received significant funding of $80 million and $100 million, respectively.
In terms of venture capital funding in 2024, blockchain infrastructure firms lead the way with $1.7 billion raised, followed by decentralized finance protocols with $626 million. Decentralized autonomous organizations have received the least funding, totaling only $3 million so far this year. The crypto industry has attracted over $3.67 billion in funding across 604 funding rounds in 2024, putting it on track to surpass the $9.3 billion raised in 2023. Since June 2014, the blockchain industry has seen an influx of more than $100 billion in funding across 5,195 funding rounds, according to DeFiLlama.
Coinciding with this surge in funding, VC firms Pantera Capital and Paradigm are currently in the process of raising new cryptocurrency funds. Pantera Capital aims to raise $1 billion, which would be the largest fundraising effort in the cryptocurrency industry since May 2022, when venture capital firm Andreessen Horowitz (a16z) raised a record-breaking $4.5 billion. Interestingly, a16z recently disclosed that it raised $7.2 billion to invest in various technology sectors in May, including artificial intelligence and gaming, but opted not to allocate additional funds to its cryptocurrency-focused fund.
Pantera Capital and Paradigm raising new funds just goes to show how much faith investors have in the future of cryptocurrencies.
It’s amazing to see the crypto industry on track to surpass the record-breaking funding raised in 2023. This is a testament to the continuous growth and maturation of the industry.
I can’t believe the overall funding in the blockchain industry has already surpassed $3.67 billion this year. It’s mind-boggling to think about the rapid pace of investment.
Monad’s huge investment shows that the market expects big things from this so-called Solana killer. It’ll be interesting to see how it performs in the long run.
It’s interesting to see that decentralized finance protocols have also attracted significant investment. This further strengthens the idea that DeFi is here to stay.
Blockchain infrastructure startups like Auradine and Berachain securing significant funding is a clear indication of the importance of building a strong foundation for the crypto ecosystem.
It’s great to see blockchain infrastructure firms leading the way in venture capital funding. They are truly the backbone of the crypto industry. 💪🌐
Not surprised to see BlackRock leading a major investment in real-world asset tokenization. They continue to explore new opportunities in the crypto space.
The emergence of Monad as a Solana killer is definitely worth keeping an eye on. It’s great to see Paradigm and Coinbase Ventures backing such a promising project.
It’s a shame that a16z didn’t allocate additional funds to their cryptocurrency-focused fund. Missed opportunity, perhaps?
We should be cautious about the increasing fundraising in the crypto industry. Is it sustainable in the long run? 📉💸