Cryptocurrency Venture Capital Funding Reaches $1 Billion for Second Consecutive Month

For the second consecutive month this year, cryptocurrency venture capital funding has exceeded $1 billion. 

In April, funding amounted to $1.02 billion across 161 investment rounds, slightly down from March’s $1.09 billion spread over 186 rounds, as reported by RootData. Nonetheless, this marks the first instance since October-November 2022 where the industry has witnessed two consecutive months of funding surpassing the $1 billion threshold.

Some notable fundraises include BlackRock’s leading investment of $47 million in Securitize, a firm specialising in real-world asset tokenization. Additionally, Monad, a new layer-1 blockchain dubbed a “Solana killer,” secured a significant $225 million investment from Paradigm and Coinbase Ventures.

Blockchain infrastructure startup Auradine and Cosmos-based layer-1 blockchain Berachain also received substantial funding, with $80 million and $100 million respectively.

In 2024, blockchain infrastructure firms received the highest venture capital funding at $1.7 billion, followed by decentralised finance protocols at $626 million. Conversely, decentralised autonomous organisations received the least funding, with only $3 million so far in 2024.

The industry has seen over $3.67 billion invested through 604 funding rounds in 2024, poised to surpass the $9.3 billion raised in 2023. DeFiLlama reports that over $100 billion has been invested in the blockchain sector through 5,195 funding rounds since June 2014.

VC firms Pantera Capital and Paradigm are currently aiming to raise $1 billion and $850 million respectively for new cryptocurrency funds.

If successful, Pantera Capital’s $1 billion raise would be the largest in the cryptocurrency industry since May 2022, when Silicon Valley-based venture capital firm Andreessen Horowitz (a16z) set a record with a $4.5 billion raise.

Interestingly, although a16z raised $7.2 billion to invest in various technology sectors in May, including artificial intelligence and gaming, the firm decided against further investment in its cryptocurrency-focused fund.

Bullish for Cryptocurrency as it endured a decent April pullback.

May is looking much more bullish!