February 2024 Crypto Fundraising Report

Key Insights

• The number of deals grew by 8% MoM; however, deal volume fell to just under $800 million.
• Finance and infrastructure protocols dominated deal flow, collectively accounting for 55% of the volume.
• The largest deals by amount raised include Eigen Labs ($100 million), Antithesis ($47 million), dYdX Foundation ($30 million), Avail ($27 million), and Etherfi ($27 million).

The number of deals grew by 8% in February, though the amount raised dropped by 15% MoM, falling to just under $800 million. Finance and infrastructure protocols dominated deal flow, collectively accounting for 55% of the fundraising volume. Capital was well-dispersed among many established and promising protocols throughout February.