Financing of risk capital aimed at crypto startups in the second quarter was $ 4.5 billion, a decrease of 22% compared to the previous three months.
According to Defillama -DataThe breakdown of the second quarter shows monthly flows of around $ 1.29 billion in April, $ 624 million in May and $ 2.5 billion in June.
The June figure is more than 4x larger than the financing of May and arranged as the second largest month of 2025, with only the rise of $ 3.5 billion from March driven by Binance’s MGX investment of $ 2 billion.
Despite the rebound in the late quarter, the combined amount for the second quarter could not match the nearly $ 6 billion invested in crypto startups between January and March.
Nevertheless, it is still double the amount of venture capital fee that flows in Crypto in the second quarter of last year.
Striking Q2 transactions
Large checks remained selective in the second quarter. Twenty -one capital received $ 585 million, the largest financing round of the previous quarter.
In addition, own labs received $ 70 million From the A16Z of Andreessen Horowitz, who bought extra own tokens.
Other important financing rounds from the second quarter are the $ 40 million round of Hypernative and $ 29 million of Symbiotic.
While Dealing slid to multi-year lows in May, the median round size of the quarter remained only 62 rounds above $ 10 million, indicating that investors later continued to finance stage and infrastructure projects.
Sector mix and geographical comments
Defi infrastructure, repeating and AI-linked middleware have recorded the largest tickets, reflected the narrative rotation of the public market.
North American companies attracted the most elevations last quarter, mainly due to larger series B and later financing rounds. At the same time, the activity was at an early stage in Asia and the Middle East higher in token-oriented seed agreements.
Despite the slower pace of the financing that was registered in the previous quarter, the total of around $ 10.3 billion is already the full annual figure of $ 9.6 billion for 2024 to date.
