Meet the 5 Most Active Venture Capital Firms in Crypto – AltFi
Venture capital money is flowing to DeFi and web3.
Image source: Venture Capital.
Crypto winter? Never heard of it. Despite bitcoin trading 70% below its all-time high, venture capital (VC) firms are still busy funding projects.
The average total value of deals closed in the first two quarters of 2022 reached $14.6 billion, double the $7.26 billion amassed in 2021, according to research by CoinTelegraph.
Not only the total values increase, but also the number of transactions. So far, 1,139 have been struck this year, slightly less than the 1,348 recorded in 2021.
The only indication that crypto winter is a thing is the drop in average deal value between the first and second quarters of 2022. Between January and March, the average deal value was $32.1 million, or 4 .3 million more than the figures recorded from April to June.
In this article, AltFi brings you the most active venture capital firms in crypto this year:
Game software developer and venture capitalist Animoca brands were the most active VCs in 2022.
Concluding 107 deals this year, Animoca Brands has invested heavily in NFT and web3 projects.
In Q1 2022, 42% of all individual deals were closed for NFT projects, accounting for 83% of all deals in the industry during the quarter.
In the second quarter of this year, Animoca Brands allocated 73% of its resources to Web3 projects.
The Hong Kong-based company’s most prolific investment count comes from $358.9 million raised in January. Liberty City Ventures led the funding round.
To concentrate: NFT and web3
Coming in second place is Coinbase Ventures (CBV). The investment arm of crypto exchange CBV aims to invest in early-stage crypto and blockchain businesses.
So far this year, the company has racked up 82 individual deals with web3 and DeFi at the center of their business.
In the first quarter of 2022, DeFi represented 27% of its investment and in the following quarter, CBV devoted 44% of its resources to web3 efforts.
CBV has participated in 275 investments to date.
To concentrate: DeFi and web3
Capital of Shima:
Based in San Francisco Shima CapitaIt comes third, with 63 individual deals completed in the first two quarters of 2022.
Focusing its efforts on seed and seed funding, Shima Capital has been most active in DeFi and web3.
DeFi investments account for 40% of Shima’s operations in the first quarter, with 50% of the company’s attention given to Web3 projects.
On August 17, Shima launched its Shima Capital Fund and collectively raised $200 million. Notable investors include Dragon Fly Capital and Animoca Brands.
To concentrate: Challenge and web3
Another Hong Kong-based VC, GSR specializes in providing liquidity, risk management strategies, and structured products to crypto investors.
In 2022, GSR has entered into 49 deals with DeFi, their main area of interest.
In Q1 2022, 56% of GSR’s business was for DeFi projects, with Q2 only slightly below 50%.
Besides DeFi, web3 investments also made up a large part of GSR’s commitments in 2022.
In March, GSR was one of the notable investors in Composable Finance’s $32 million funding round.
To concentrate: Challenge
Skip the capital
Last on our list is Skip the capital. Venture capitalists have specialized in expansion-stage Series A and B investments, with a focus on technology and software companies.
Throughout 2022, Jump Capital closed 45 individual investment deals with DeFi projects attracting the most attention.
In the first quarter of 2022, 30% of Jump Capital’s investments went to DeFi projects. This figure rose to 50% in the second quarter of the year.
In July, Jump Capital was one of the lead companies in the $13 million funding round for fitness app Sweatcoin.
To concentrate: Challenge
Based on AltFi’s list, DeFi and web3 appear to be the hotspots attracting the most VC funding. With blockchain gaming, metaverse, and DeFi technology becoming more accessible, it’s no wonder these industries have received the lion’s share of VC attention.
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