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Crypto Venture Capital funding surpasses $1 billion for the second consecutive month
Crypto Venture Capital funding surpasses $1 billion for the second consecutive month
Cryptocurrency venture capital funding has surpassed $1 billion, signaling sustained investor interest in the sector. In April the total was $1.02 billion lifted up in 161 investment rounds, slightly lower than the $1.09 billion recorded in March across 186 rounds. This achievement marks the first time since October-November 2022 that the cryptocurrency sector has recorded two consecutive months of funding exceeding the $1 billion mark.
Several major fundraisers contributed to this milestone. Securitize, a company specializing in the tokenization of real-world assets, has secured a $47 million investment led by BlackRock. Monad, a layer 1 blockchain often referred to as the “Solana killer,” has received a massive $225 million investment from Paradigm and Coinbase Ventures. Additionally, Auradine, a blockchain infrastructure startup, received $80 million in funding, while Berachain, a layer-1 blockchain based on Cosmos, secured $100 million.
When analyzing funding allocations by sector in 2024, blockchain infrastructure companies emerged as the top recipients, with $1.7 billion in venture capital funding. Decentralized finance protocols follow closely with $626 million. On the other hand, decentralized autonomous organizations received the least funding, totaling just $3 million this year.
Venture capital firms Pantera Capital and Paradigm are currently seeking significant funding for new cryptocurrency funds. Pantera Capital aims to raise $1 billion, the largest amount in the cryptocurrency sector since May 2022, when Andreessen Horowitz raised a record $4.5 billion. Meanwhile, Andreessen Horowitz recently raised $7.2 billion for investments in various technology sectors, but decided not to allocate additional funds to his cryptocurrency-focused fund.