Crypto Venture Capital Landscape Sees Uptick in Investment Projects
In January, the crypto venture capital landscape experienced a significant increase in investment projects. According to a report by Wu Blockchain, there were 113 publicly disclosed investment projects, representing a 10.8% increase compared to December 2023 and a 1.8% increase compared to January 2023.
$650 Million Raised in Funding
Infrastructure projects received approximately 12% of the financing, while DeFi and NFT/GameFi each accounted for around 19% and 12%, respectively. CeFi and L1/L2 solutions also made notable contributions with approximately 6% and 4% of the financing proportion, according to the report.
Despite a month-on-month decrease of 28.6%, the total fundraising amount for January reached $650 million, indicating sustained investor interest and confidence in the long-term potential of crypto ventures.
Leading Fundraising Projects
HashKey Group led the fundraising charge by raising nearly $100 million in its Series A round. Core Scientific successfully closed a $55 million equity offering that was oversubscribed, while Flowdesk secured $50 million in its Series B funding round. Sygnum, a cryptocurrency bank, also secured over $40 million in strategic financing.
Funding Reaches $9 Billion in 2023
Research conducted by RootData revealed that the overall funding for Web3 reached $9.043 billion throughout 2023. Investment was focused on enterprise infrastructure and digital wallets. In the DeFi sector, decentralized exchanges (DEX) saw intense competition, while interest in derivatives and Real World Assets (RWA) expanded. Despite a decline in CeFi funding, opportunities within the Bitcoin ecosystem remained attractive to investors.
The number of developers increased by 66%, with Ethereum leading the way. DeFi, Layer 1/Layer 2 solutions, and GameFi remained popular, but compliance and social sectors also gained significance.
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