October 11, 2023

Coinbase Ventures Most Active Crypto VC Firm from 2017 till 2023

Coinbase

Coinbase

Crypto data aggregator CoinGecko released a study on October 10 detailing the most active cryptocurrency firms.The study revealed that Coinbase Ventures was the most active of all the firms.

According to the data, Coinbase Ventures made 144 investments in the pre-seed or seed stage and an additional 199 investments at the early stages of Series A or B. The study also showed that the top 23 most active cryptocurrency venture capitalists have been involved in a range of 149 to 372 deals each.

These prominent crypto venture capital firms have collectively contributed to a substantial 4,346 investments from January 1, 2017, to September 21, 2023, cementing their pivotal role as the primary backers fueling the development of the cryptocurrency industry.

Following Coinbase Ventures, NGC Ventures in Singapore ranked as the second most active venture capital firm in cryptocurrency, boasting 271 deals to date.

Among these, 158 belong to the early-stage VC category, while 99 are categorized as pre-seed or seed deals. Like several leading crypto VC firms, NGC Ventures has yet to record any venture growth deals in its portfolio.

According to Bloomberg, venture capitalists have slowed down their investments in the crypto market, resulting in the lowest global crypto funding in the third quarter of 2023 compared to the past few years. In Q3, only $2 billion was invested in crypto projects, which is a 63% decline from the same period in 2022.

Towards the end of September 2023, Bitcoin-based products experienced outflows for several weeks, indicating that investors continued to liquidate short positions. CoinShares analysts believe investors are now becoming more selective in the altcoin market, with continued inflows of $0.66 million and $0.31 million into XRP and Solana (SOL), respectively.

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