Q1’23 Blockchain Venture Funding and M&A Recap

In the first quarter of 2023, slightly more than $2.7 billion in venture capital was allocated across 402 blockchain-related funding deals. Funding in dollar terms fell roughly 22% Q/Q, from approximately $3.5 billion in Q4'22 to $2.7 billion. Q1 is the lowest quarter in funding since Q4'20, which has now descended for four consecutive quarters. 

Additionally, since 2020, the average and median amount raised per month has equated to approximately $1.7 billion and $1.3 billion, respectively. Investment during each month this quarter was below these levels, with $631 million in January, $1.2 billion in February, and $943 million in March.