Crypto venture capital funding has exceeded $1 billion, signaling sustained investor interest in the industry. In April, a total of $1.02 billion was raised across 161 investment rounds, slightly lower than the $1.09 billion recorded in March from 186 rounds. This achievement marks the first time since October-November 2022 that the crypto industry has experienced two consecutive months of funding surpassing the $1 billion mark.
Several notable fundraises contributed to this milestone. Securitize, a firm specializing in real-world asset tokenization, secured a $47 million investment led by BlackRock. Monad, a layer-1 blockchain often referred to as a “Solana killer,” received a massive $225 million investment from Paradigm and Coinbase Ventures. In addition, Auradine, a blockchain infrastructure startup, received $80 million in funding, while Berachain, a Cosmos-based layer-1 blockchain, secured $100 million.
When analyzing funding allocations by sector in 2024, blockchain infrastructure firms emerged as the top recipients, with $1.7 billion in venture capital funding. Decentralized finance protocols followed closely behind with $626 million. On the other hand, decentralized autonomous organizations received the least funding, totaling only $3 million so far this year.
VC firms Pantera Capital and Paradigm are currently seeking significant funds for new cryptocurrency funds. Pantera Capital aims to raise $1 billion, which would be the largest in the crypto industry since May 2022, when Andreessen Horowitz raised a record-breaking $4.5 billion. Meanwhile, Andreessen Horowitz recently raised $7.2 billion for investments in various technology sectors but opted not to allocate additional funds to its cryptocurrency-focused fund.