DWF Labs: In April, DWF participated in 10 investment rounds with a total investment of more than $53 million. The largest investment was a $16 million round for RACA, a metaverse platform for game studios governed by a community-driven decentralized autonomous organization (DAO).
HashKey Capital: Hashkey Capital has invested in 10 Web 3.0 companies with a total funding of $63 million in April 2023. The largest round was an $8.5 million seed round for Nibiru, a decentralized finance (DeFi) hub, a proof-of-stake blockchain, and one of the many interconnected blockchains that make up the Cosmos ecosystem.
KuCoin Ventures: In April, Kucoin Ventures participated in 6 funding rounds with a total of $39 million. The largest round was a $15 million Series A for Polyhedra, a Web3 interoperability infrastructure with a state-of-the-art zero-knowledge proof system.
CMT Digital Ventures: In April, CMT Digital participated in 6 rounds of funding with a total of $24.5 million. The largest round was a $6 million round for Fractal, an institutional-grade technology infrastructure provider that enables on-chain clearing, settlement, and marginal digital asset trading, allowing all on-chain financial assets to interact and collateralize through universal marginal accounts.
NGC Ventures: In April, NGC Ventures participated in 6 funding rounds with a total of $149 million. The largest round was a $120 million Series B for LayerZero, a messaging protocol that allows interoperability and facilitates seamless cross-chain messaging between countless blockchains.
Bixin Ventures: In April, Bixin participated in 5 rounds of financing with a total financing amount of US$153 million. The largest round was a US$30 million financing round for Sei Network, a blockchain Layer-1 designed for DeFi, which aims to become the basic platform of the future financial system.
Spartan Global Blockchain Opportunity Fund: Last month, Spartan Group invested in 5 Web3 startups with a total funding of $32 million. The largest round was a $9.5 million seed round for MetaGravity, a London-based next-generation virtual world and metaverse infrastructure provider that aims to create a scalable and decentralized metaverse by building a distributed computing infrastructure.
Circle Ventures: In April, Circle Ventures helped close five funding rounds totaling $146 million. The largest round was a $10 million round for Rarify Labs, a service provider and community member working to advance Rarimo, a next-generation interoperability protocol.
Cogitent Ventures: Cogitent Ventures invested in 4 VC funding rounds with a total of $13 million in April 2023. The largest round was a $2.1 million round for Tribe3, a gamified decentralized NFT futures exchange where users can trade NFT perpetual futures with leverage, engage in clan battles with others in the community, and win in-game items to create personalized NFT avatars.
Arcane Group: In April, Arcane helped complete 4 rounds of financing with a total financing amount of US$25 million. The largest round was a US$5 million financing for Gameta, a startup in the Web3 gaming vertical, a multi-layer NFT entertainment and gaming network.
The investment focus of major capitals in the second quarter of 2023 is mainly concentrated in the following areas: Metaverse, decentralized finance (DeFi), blockchain technology and infrastructure, cross-chain communication and interoperability, and NFT and gamification platforms. These investment trends reflect some important current technological development trends and market opportunities.
