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May 2024 Crypto Fundraising Report
Key Insights
- Deal volume decreased 8.8% MoM to $1.28 billion. However, the number of deals increased 0.7% MoM, sustaining near yearly high levels with 303 deals.
- The most notable deals included Farcaster ($150 million), Polymarket ($70 million), Babylon ($70 million), Securitize ($47 million), and Humanity Protocol ($30 million).
- The financial sector saw the most activity, accounting for 25.2% of fundraising volume with $323 million.
- Consumer sector deal volume erupted by 248.4% MoM to $246 million. This was primarily due to a massive raise by Farcaster.
Deal volume in May 2024 decreased 8.8% MoM, falling to $1.28 billion and stagnating away from an uptrend that started in the summer of 2023. The number of deals increased 0.7% MoM, rising to 303 and holding around yearly high levels of above 300. The financial sector saw the most activity, accounting for 25.2% of fundraising volume with $323 million. The infrastructure and consumer sectors were second and third, accounting for 21.2% and 19.1% of fundraising volume, respectively.
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During his 3.5-year tenure at Messari, Patryk contributed across Messari's Diligence, Protocol, and Enterprise research teams. As Research Manager, his primary focus was on Layer-1 and Layer-2 infrastructure and the DeFi ecosystems atop them.
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