Crypto Venture Capital Fundraising Jumped Over 50% in March Amid Rally
Summary
Venture capitalists increased their investments in crypto projects by over 52% in March, with more than $1.16 billion allocated to the industry. This surge was driven by a new all-time high for bitcoin and the success of spot bitcoin exchange-traded funds (ETFs). The majority of the capital was invested in crypto infrastructure and decentralized finance (DeFi) projects, particularly those on the Ethereum blockchain. Other popular blockchains included Polygon and BNB Chain. More than half of the investments were between $1 million and $5 million, used as seed capital, while allocations over $20 million constituted about 10% of all investments. Approximately a third of the capital was allocated to projects in the United States.
