TLDR:
- Solana’s venture capital seems to be missing despite its surge in popularity
- VCs may be avoiding high valuations in the current market
The Lightspeed newsletter discusses the current state of venture capital in relation to Solana and its recent surge in popularity. Despite Solana becoming more high-profile in the crypto world and generating significant interest from retail investors, there has not been a corresponding influx of venture capital. The article suggests that this could be due to valuations creeping too high in the current bull market, leading some investors to wait out the market. VCs may have been eager to deploy funds earlier, with valuations skyrocketing as a result. The article also highlights the types of Solana-based startups that are attracting funding, with more focus on apps rather than infrastructure.
One interesting development mentioned in the article is the integration of Solana capabilities into Ethereum by Rome Protocol and the fundraising success of the restaking service Solayer. On the app side, game-related startups like GolfN, Shaga, and Sonic have secured funding. The article also touches on the Solana hackathon-cum-accelerator Colosseum and the variety of projects being explored on the platform that may not be attempted elsewhere.
The article also briefly mentions Helium Mobile’s partnership with Telefonica, where a significant amount of mobile data is being offloaded to Helium hotspots. This could potentially catch the interest of other major phone companies if successful.
Overall, the article provides insight into the current state of venture capital in the crypto industry, particularly in relation to Solana, and highlights some key trends and developments in the space.
