Crypto Venture Capital Investments Surge in 2024
A report by Wu Blockchain citing RootData statistics revealed a significant growth of 26.1% in crypto venture capital investments in 2024 compared to the previous year. With 1,535 projects publicly disclosed, the crypto VC landscape is showing promising signs of expansion.
December Investment Trends
December saw a total of 102 publicly disclosed crypto VC investment projects, marking a 7.4% increase from the previous month. However, this represented a 6.4% decline compared to the same period in 2023.
Funding Insights
Total funding for December reached $740 million, indicating a significant 60.9% month-on-month increase. Despite this, there was an 18.7% year-on-year decrease from December 2023.
For the entire year, disclosed funding amounted to $9.33 billion, slightly surpassing the previous year’s total by 0.5%.
Sector Breakdown
- DeFi led the way with 24.4% of total projects.
- NFT/GameFi followed closely at 15.1%.
- Layer 1 and Layer 2 solutions accounted for 11% of projects.
- AI projects represented 9.6% of the total.
Other sectors included CeFi (5.7%), RWA and DePIN projects (8.8%), and Tools and wallet infrastructure (7.3%).
Key Funding Rounds
Some of the notable funding rounds in 2024 included:
- Stripe’s $1.1 billion acquisition of Bridge in October.
- Iris Energy’s $413.4 million raised through stock issuance.
- Avalanche’s $250 million secured through a token sale.
Other Major Deals
Additional significant deals in 2024:
- Monad Labs raised $225 million to develop an Ethereum Virtual Machine-compatible Layer 1 blockchain.
- Blockstream secured $210 million to expand its Layer 2 technologies.
- Robinhood announced plans to acquire Bitstamp for $200 million.
- Bitfarms acquired Stronghold Digital for $175 million.
- CleanSpark merged with GRIID Infrastructure for $155 million.
- Hut 8 received a $150 million strategic investment for AI infrastructure development.
- Farcaster raised $150 million, reaching a valuation of $1 billion.
