According to a report by financial data and technology company PitchBook, seven of the ten largest cryptocurrency-related early-stage venture capital investment deals in crypto occurred in 2021.
The report, provided by PitchBook to Cryptonews.com, estimates crypto and blockchain-related investments made by global venture capital funds at USD 29.4bn in this year’s market, with 1,686 deals.
According to data from the financial software company, this was almost five times more than in 2020 when venture capital firms invested USD 6.6bn in such deals.
PitchBook data indicates that 2021 was a record year for venture capital investments in this sector. This surpasses the 2018 record year when crypto and blockchain companies secured USD 8.2bn in 1,200 deals.
PitchBook’s report gives insight into seven of the most important early-stage deals this year.
The July funding round was funded by crypto derivatives FTX, which generated approximately USD 1bn
The November round of funding by crypto lender Celsius Network, which brought in USD 750m
The November funding round was led by software developer Forte, which contributed approximately USD 725m to the company.
The November round of funding by fintech company MoonPay, which brought in USD 555m to the company.
FTX’s previous funding round, which was completed in October and provided USD 420.69m for the company to help it grow;
The November round of funding by crypto exchange Bullish Global that injected USD 400m to the company
The USD 350m round of funding by non-fungible token ( NFT) platform Dapper Labs took place in March.
reported that VC funds invested nearly USD 30bn in crypto in 2021. This is more than the previous record-setting year of 2018, and nearly fourfolds, but also means that there were more funds injected in to the industry than all previous years.