"Venture capital firms are on pace for another down year for fundraising. VCs raised only $50 billion in the first half of the year, putting the industry on pace for its worst finish since at least 2015, according to data from Pitchbook. Analysts have pointed to high interest rates and an IPO drought that's only recently subsiding as two main culprits for declines in venture allocations."
"The tough fundraising environment has bled into crypto-despite record prices in Bitcoin and Ethereum. Crypto venture firms deployed almost $7 billion into startups in the first half of the year, per Pitchbook. While that puts the industry on pace to surpass recent annual totals, it's a far cry from the last crypto boom, where investors deployed more than $30 billion in both 2021 and 2022."
CMT Digital closed its fourth venture fund at $136 million in early October with commitments from family offices, high-net-worth individuals, and some institutions. The final amount was below an earlier $150 million target but received support from both existing and new limited partners despite difficult macroeconomic conditions. Venture capital fundraising slowed overall, with VCs raising $50 billion in the first half of the year amid high interest rates and an IPO drought. Crypto venture deployment reached almost $7 billion in H1, well below the more than $30 billion invested in 2021 and 2022. CMT Digital is an offshoot of CMT Group, a quantitative trading firm founded in 1997.
Read at Fortune Crypto
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