Crypto VC Investment down in March 2023

RootData’s recent statistics show that the cryptocurrency venture capital (VC) field had 84 publicly announced investment projects in March, a decrease of 31% month-on-month when compared to the 122 projects in February 2023, and a year-on-year drop of 59%.

Infrastructure projects dominated the financing proportion by 31%, whereas DeFi accounted for about 18%, CeFi accounted for about 11%, and NFT/GameFi accounted for approximately 20%. In March, the total financing amount was $770 million, a decrease of 19% compared to $950 million in February 2023, and an 80% decrease year-on-year from $3.89 billion in March 2022.

Oversized rounds exceeding $20 million in funding (excluding CeFi, mining companies, and other centralized institutions) include Ledger’s $109 million funding round, EigenLayer’s restaking protocol introduced on Ethereum, and Scroll’s zkEVM-based zkRollup, valued at $1.8 billion.