Crypto venture capital funding has exceeded $1 billion for the second consecutive month in 2024.
In April, $1.02 billion was raised across 161 investment rounds, a slight decrease from March’s $1.09 billion spread over 186 rounds, as reported by RootData.
This marks the first instance since October-November 2022 that the industry has witnessed two consecutive months of funding surpassing $1 billion.
Significant investments include a $47 million funding round led by BlackRock into real-world asset tokenization firm Securitize and a substantial $225 million investment into Monad, a new “Solana killer” layer-1 blockchain supported by Paradigm and Coinbase Ventures. Additionally, blockchain infrastructure startup Auradine and Cosmos-based layer-1 blockchain Berachain secured $80 million and $100 million respectively.
Blockchain infrastructure firms received the highest venture capital funding in 2024, totaling $1.7 billion, followed by decentralized finance protocols with $626 million.
Decentralized autonomous organizations (DAOs) received the least funding, totaling only $3 million in 2024.
The industry has seen over $3.67 billion in funding across 604 rounds so far in 2024, putting it on track to surpass the $9.3 billion raised in 2023.
Since June 2014, the blockchain industry has attracted over $100 billion in funding across 5,195 rounds, according to DeFiLlama.
Notably, VC firms Pantera Capital and Paradigm are seeking $1 billion and $850 million respectively for new cryptocurrency funds. If successful, Pantera Capital’s raise would be the largest for the cryptocurrency industry since May 2022 when Andreessen Horowitz (a16z) raised $4.5 billion.
While a16z recently raised $7.2 billion for various technology sectors including artificial intelligence and gaming, they chose not to increase their cryptocurrency-focused fund.
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