Crypto VC deals drop in Q1, but funding more than doubles: PitchBook
Crypto venture capital deals in the first quarter of 2025 saw deal values jump even as the number of deals sank from the same quarter a year ago, says PitchBook.
The venture research firm said in its May 14 Crypto VC Trends report for Q1 that 405 deals were made in the quarter, down 39.5% from the 670 deals made in Q1 2024, but slightly up from the 372 made in Q4 last year.
However, the total value of deals in Q1 more than doubled from a year ago, jumping to $6 billion compared to $2.6 billion in the first quarter of 2024 and doubling from $3 billion in Q4 2024.
PitchBook’s senior crypto research analyst Robert Le said that despite macroeconomic turmoil over the quarter, “capital continued to seek crypto’s core utility rails.”
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