Crypto companies raised $1.36B across 41 VC rounds in July. Investment fell only 6.8% from June, but round count dropped 28%, and one $400M strategic round supplied almost a third of the total.
Headline investment was resilient, but market breadth weakened. Crypto companies raised $1.36B in venture capital, only $100M less than in June. The number of completed rounds fell by 16, and the number of institutional investors fell by 62. Investment became concentrated in a smaller set of transactions.
The ten largest rounds accounted for 85% of VC investment, and the largest round alone contributed 29.4%. Stage, category and investor data tell the same story. Large cheques remained available to selected companies while financing breadth…
