TLDR:
- Venture capital firms invested a record $485 million in crypto startups in February 2024.
- Infrastructure projects received the bulk of funding, with the leading investment being $100 million from a16z to EigenLayer.
In February 2024, venture capital firms made a record $485 million investment in crypto startups, marking a 5.3% monthly increase and the highest investment amount in the last three months. Infrastructure projects received the majority of the funding, totaling $387 million. The leading investment was a $100 million funding round from a16z to EigenLayer. Additionally, the liquid stacking platform EtherFi secured $27 million in a Series A round led by Bullish and CoinFund, while payments startup Oobit raised $25 million in a Series A round led by Tether and CMCC Global. Decentralized finance (DeFi) startups attracted over $48 million in funds from VCs last month. Superform Labs received $6.5 million in seed funding from Polychain Capital for a universal yield marketplace, and Omega secured $6 million from Borderless Capital and Blockchain.com to build a DeFi ecosystem on Bitcoin. Web3 companies attracted almost $18 million in investments, with Beoble leading the way with a $7 million raise. Gaming startups also saw significant investments, with $33 million raised, including $8 million for studios Helika and Pixelmon.
