Venture Investors Invested $2.6B in Crypto Startups in Q1 2023
According to the PitchBook report, the volume of venture investments in crypto-startups for the January-March period of 2023 amounted to $2.6 billion within 353 funding rounds.
The seed rounds had an annual increase of 33.3%, whereas the early stages decreased by 16.7%, and the later stages increased by 209.22%.
There was significant interest in Ethereum-solutions of the second level, with Blockstream receiving $125 million for Bitcoin mining infrastructure, and Scroll receiving $50 million for ZK-Rollup network. Ledger and Taurus custodial services also saw significant collections of $493 million and $65 million, respectively.
Robert Le, PitchBook analyst, attributed the decline in venture investors’ activity to the increase in interest rates and the collapse of SVB, a reference bank for such companies.
