Analysis of the three major trends in crypto venture capital: from token-dominated to liquidity venture capital
Crypto venture capital remains at the forefront of venture capital innovation and asymmetric returns.
Original article: Mason Nystrom , Investor at Pantera Capital
Compiled by: Zen, PANews
Financing has become difficult today as upstream DPI (return on distributed capital) and LP (limited partner) funding face challenges.
In the broader venture capital space, funds are returning less money to LPs over the same period than before. This in turn has reduced the amount of “dry powder” available for investment by existing and new VCs, making it more difficult for founders to raise funds.
What does this mean for crypto VCs?
The number of deals slowed down in 2025, but the pace of capital deployment was the same as in 2024. The decrease in…
