TLDR:
- Crypto venture capital funding exceeded $1 billion for the second consecutive month in April 2024.
- Notable fundraises included investments in Securitize, Monad, Auradine, and Berachain.
Crypto venture capital funding has surpassed $1 billion for the second month in a row in April 2024. The $1.02 billion in funding came from 161 investment rounds, slightly lower than the $1.09 billion from 186 rounds in March. This milestone marks the first time since late 2022 that the industry has seen two consecutive months of funding above $1 billion.
Notable fundraises in April included a $47 million investment into real-world asset tokenization firm Securitize, a $225 million investment into Monad, a new layer-1 blockchain, and $80 million and $100 million in funding for Auradine and Berachain, respectively. Blockchain infrastructure firms received the most venture capital funding in 2024 at $1.7 billion, with decentralized finance protocols coming in second at $626 million. Decentralized autonomous organizations received the least funding, totaling only $3 million in 2024.
Overall, the industry has seen over $3.67 billion in funding across 604 rounds in 2024, on pace to exceed the $9.3 billion raised in 2023. Since June 2014, more than $100 billion has been invested in the blockchain industry across 5,195 funding rounds. VC firms Pantera Capital and Paradigm are currently seeking $1 billion and $850 million for new cryptocurrency funds, with Pantera Capital potentially setting a record for the largest raise in the industry since May 2022.
Despite this surge in funding, Silicon Valley-based venture capital firm Andreessen Horowitz (a16z) raised $7.2 billion for investments across various technology sectors in May 2024 but did not top up its cryptocurrency-focused fund. This trend highlights the continuing growth and interest in the cryptocurrency and blockchain space.
