According to a new report, cryptocurrency venture capital (VC) funding experienced a significant decline in 2023, with a 68% decrease in funding compared to the previous year. In 2022, $33.3 billion was invested in crypto VC funding, but in 2023, that number dropped to $10.7 billion. However, despite the decline, 2023 still saw the third-highest total crypto investments, surpassing the figures seen during the bear markets of 2019 and 2020. The shift in investment stages was another notable trend, with more investment going towards pre-seed, seed, and Series A startups, while mid and later-stage funding decreased. The sectors most invested in were NFT/gaming, infrastructure, and Web3. The number of crypto VC deals also declined by 32% in 2023 compared to 2022, with 1,819 deals made. However, despite the decrease in funding and deals, there is still cautious optimism in the industry, with investors focusing on the long-term potential of blockchain and cryptocurrencies. Looking ahead, venture capitalists expect to see an increase in investments and transactions in 2024.
Crypto VC Funding Plunges 68% in 2023, from $33.3Billion in 2022.
![](https://funderlyst.com/wp-content/uploads/2023/09/Angel-Investors-Venture-Capitalists.jpg)
Latest from Blog
![](https://funderlyst.com/wp-content/uploads/2023/09/Exit-Strategies-for-Startups.jpg)
Big Thinking: How European Startups Can Learn from America
Summary of Article TLDR: Key Points: Europe’s startup ecosystem needs to embrace a funding model similar to America’s. By delaying fundraising and focusing on incubators, European startups can experience rapid growth and
![](https://funderlyst.com/wp-content/uploads/2023/09/Angel-Investors-Venture-Capitalists.jpg)
Queensland’s ASTN Accelerator: Fueling Innovation for 40 Sports-Tech Startups
TLDR Queensland is bringing sportstech accelerator ASTN to back 40 startups in preparation for the Brisbane Olympics in 2032. The programs will focus on helping local companies attract the right investors for
![](https://funderlyst.com/wp-content/uploads/2023/09/Investing-in-Venture-Capital_-Opportunities-and-Challenges.jpg)
StepStone’s Fund VI Secures $33 Billion: Closing Strong
TLDR: StepStone Group closed its sixth secondary fund, VSF VI, with $3.3 billion in commitments VSF VI focuses on venture capital asset class opportunities, representing the largest fund exclusively pursuing venture capital
![](https://funderlyst.com/wp-content/uploads/2023/09/Exit-Strategies-for-Startups.jpg)
Tercek Joins QED: Bessemer Venture Partner Jumps Ship
TLDR: Tercek leaves Bessemer to join QED Investors. Tercek was previously a senior associate on the IR team at Bessemer Venture Partners. John Tercek has made a move from Bessemer Venture Partners
![](https://funderlyst.com/wp-content/uploads/2023/09/Utilizing-Data-Analytics-in-VC-Decisions.jpg)
Texas-based Wave Ventures raises $25m in first fund venture
TLDR: Wave Ventures of Texas has raised $25 million for its first fund. LPs in the fund include family offices and individuals. In a recent development, Wave Ventures of Texas has successfully