Venture capitalists made only 83 public deals worth $520.1 million last month, down 31% from May 2023 and 71% from June 2022.
According to analytics service RootData, venture capital funds invested about $520.1 million in the crypto market in June 2023, closing just 83 deals.
Last month’s figures were the lowest not only in the current year but also in the past few years. Thus, compared to May 2023, the volume of venture capital in the crypto market fell by 31%, and compared to June 2022 even by 71%. The number of deals fell 14% from 97 in May 2023 to 83 in June.
Venture capitalists have invested more than $4.5 billion in the crypto market this year with 607 deals. However, the numbers were 65% lower than the same period in 2022, when the crypto market recorded $20.4 billion in venture capital inflows in 910 deals.
In June 2023, the most popular categories for investment were:
- infrastructure — 31%;
- NFT and GameFi — 20%;
- DeFi —18%;
- CeFi — 8%.
The most significant deals in June 2023:
- Blockchain company Gensyn, which develops solutions for implementing artificial intelligence, raised $43 million;
- Blockchain game developer Mythical Games closed a $37 million Series C1 funding round;
- Galaxy Finance raised $30 million to develop a cryptocurrency wallet;
- Mining company Arkon Energy raised $26 million to develop renewable energy sources for cryptocurrency mining;
- Insurance company Meanwhile received $19 million in funding to develop a BTC life insurance policy.
While in June 2023, cryptocurrency investment products attracted the highest weekly inflows since July 2022. According to analyst data from CoinShares, the total investment was $199 million, with BlackRock’s filing for a Bitcoin ETF in the U.S. being the main reason for the increase.
