Crypto Venture Capital ‘Bounces Back’ in 2024, Investors Still Willing to Back Established Teams, Report Finds

Crypto VC spending continues to remain low through the end of 2024, PitchBook reveals in a new report, with deal value jumping to $2.4 billion in the final quarter of 2024, up 13.6% from the third quarter, but the number of deals dropping from 411 to 351. While the rebound in funding suggests that investors are still willing to back established teams and differentiated technologies, PitchBook says, the continued decline in deal count underscores investors' increasing selectivity, which also reflects ’founders of more mature companies moving to smaller, strategically focused rounds rather than pursuing the larger rounds that have been common in the past. ‘.