2022 is a turning point for VC venture capital funds. VC outflows hit over $14 billion per quarter in the first two quarters before falling to just under $5 billion in the third — a figure not too surprising given the sudden fall of Celsius, Three Arrows Capital, BlockFi, and FTX,...
However, regardless of the downward trend of the market, there are still a number of organizations and businesses operating in the Blockchain field that have raised impressive capital, such as:
Haun Ventures: Raised $1.5 billion
In March, crypto investor and Coinbase board member Katie Haun raised $1.5 billion for two Web3-focused investment funds. Haun Ventures has set up a $500 million early-stage fund and a $1 billion accelerator fund to invest in the “Every layer of the Web3 tech stack.” In launching his new fund, Haun recruited former executives from Airbnb, Coinbase, and Google Jigsaw.
Web3 has become a focal point for venture capital over the past 12 months. Although Web3 companies are said to be working on the next version of the decentralized Internet, the concept is still vague and the industry behind it is still in its infancy.
Haun Ventures has set up a $500 million early-stage fund | Image Source: Internet
Huobi Global: Launching a fund of 1 billion USD
In June, cryptocurrency exchange Huobi Global established a $1 billion investment fund focused on decentralized finance (DeFi) and Web3 projects. Dubbed Ivy Blocks, the new fund is designed to identify and invest in “promising blockchain projects” across various sub-sectors. Specifically, Huobi Global will focus on providing “liquid investments” to help DeFi projects get up and running.
The DeFi sector is deflationary along with the rest of the crypto market in 2022, but unlike centralized exchanges, the sector is considered resilient.
NBA Top Shot: $725 million fund
Dapper Labs, the company behind CryptoKitties and NBA Top Shot, has launched a $725 million fund to support the development of the Flow blockchain. The fund receives backing from many investors, including Andreessen Horowitz, Spartan Group, and CoinFund. In addition to supporting the developer community that has built on Flow, the fund is being used to attract developers from other blockchains, such as Ethereum.
Although Dapper Labs has generated the largest collection of NFTs in recent years, sales have lagged behind layer 1 ecosystems due to weaker network effects and decentralized application collection. less.
The fund receives backing from many investors | Image Source: Internet
Dragonfly Capital: Launching a $650 million fund
Crypto VC Dragonfly Capital closed its third funding round in April, raising $650 million to surpass two previous funding rounds of $100 million and $200 million. Dragonfly said the money will be used to invest in startups in the DeFi, Metaverse, and Blockchain sectors.
Fire blocks: Raised $550 million
Digital asset custody platform Fireblocks saw growth in value in January after closing a $550 million Series E funding round. The latest round has resulted in cumulative funding of up to $799 million since 2019, as VCs continue to support the organization's infrastructure solutions. Some of Fireblocks' most prominent clients include Bank of New York Melon, Galaxy Digital, and CoinShares.
Binance Labs: Spending $500 Million to Develop Web3
Binance Labs saw outstanding growth to $500 million of Binance. Binance CEO Changpeng Zhao said the funds will support project founders to lead Web3 adoption across DeFi, NFT, gaming, metaverse, and social sub-sectors. When it first launched, the Binance Labs fund supported 14 projects across the DeFi and social finance sub-sectors.
Source
[1] Binance: Top crypto funding stories of 2022
[2] Finance.yahoo.com: The 10 biggest crypto funding rounds of 2022
