Crypto VCs made $2.6B worth of deals in the first quarter of 2023
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While the crypto space suffers through a bear market, venture capital (VC) firms are still making deals in 2023, demonstrating that the space is alive and well despite the “crypto winter.”
While the report recognizes that the decline may continue, it also identified some positive outlooks for the space. The data shows layer-2 scaling solutions can continue their momentum from 2022. The report cited Blockstream raising $125 million to finance a Bitcoin (BTC) mining infrastructure and Scroll — a firm building a zero-knowledge Ethereum Virtual Machine scaling solution — raising $50 million in a late-stage VC round.
Besides scaling solutions, custody solution providers Ledger and Taurus received sizable investments in 2023. On March 30, Ledger raised $109 million as demand for self-custody soared. Meanwhile, Taurus raised $65 million in a Series B on Feb. 14.
