Venture Capital earmarked more than $1.1 billion across 180 investments last month, the largest of which was Optimism 's private Token Sale .
Cryptocurrency Venture Capital increased 52.5% in March, with crypto projects receiving $1.16 billion, mostly in infrastructure and non-financial projects. centralized (DeFi).
RootData figures show 180 announced investments managed to secure investments last month – the highest monthly figure since April 2022.
25% of these fund-raising transactions were between 1 million and 3 million USD, while just over 15% raised between 5 million and 10 million USD. The majority of funded projects are based in the US, but they still represent less than 10% of total deals.
Layer-2 blockchain Ethereum Optimism received its largest Capital injection of the month when it sold $89 million worth of Token in a private Token sale. Cryptographic startup Zama came in second with a $73 million Series A.
The number of monthly transactions increased 25% compared to February and more than 70% year-on-year, while the total amount raised also increased 28% compared to March 2023.
VC firms have recently hinted at their crypto-focused interests in the coming year. Andreessen Horowitz (a16z) on April 1 spent 30 million USD for a fund focusing on Web3 gaming.
Last week, a16z co-founder, Marc Andreessen, and Galaxy Digital were the top contributors to VC firm 1kx's $75 million fund targeting crypto-based consumer apps and Hack VC on February raised $150 million to fund early-stage cryptocurrency and artificial intelligence (AI) startups.
Infrastructure projects were the best-funded companies in March, accounting for nearly $283 million – about a quarter of the total $1.16 billion in venture capital Capital .
Next is decentralized finance (DeFi) projects with a funding amount of 228.1 million USD, accounting for nearly 20% of the total, of which Centralized Finance (CeFi) projects – such as transaction – received the third most funding at $85.5 million.
VC funding has posted monthly gains YTD as crypto FOMO has returned in tandem with markets, which PitchBook attributes to fund launches Spot Bitcoin ETF in the United States.
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