PANews reported on February 10 that according to Blockworks, PitchBook revealed in a new report that crypto venture capital spending will continue to be sluggish before the end of 2024. Specific data shows that the transaction value surged to US$2.4 billion in the fourth quarter of 2024, an increase of 13.6% from the third quarter, but the number of transactions decreased from 411 to 351. Robert Le of PitchBook pointed out: "Although funds have returned, showing investors' continued support for mature teams and differentiated technologies, the continuous decline in the number of transactions reflects the strengthening of investor selectivity, a trend that has begun to emerge since the third quarter."
Comparing the data from 2023 and 2024, the two are almost the same. In 2023, total crypto venture capital reached US$10.3 billion, involving 1,936 transactions; last year, spending in the field also reached US$10 billion, covering 1,940 transactions. In addition, the average transaction amount at the seed stage last year increased by 20%, from US$2.5 million to US$3 million, while early-stage financing increased by 26% to US$4.8 million. However, the amount of financing in the later stage fell slightly, from US$6.4 million to US$6.3 million. Le said that this reflects that "founders of more mature companies are turning to smaller but strategically focused financing rounds rather than pursuing the large financing that was common in the past."
