33 Investors Lead 2,763+ Crypto Seed Funding Rounds

• Coinbase Ventures leads in crypto funding with over 324 rounds and an average of $8M.
• Animoca Brands emerged as a second player, participating in 271 funding rounds.
• Andreessen Horowitz tops the charts with a $25 million average funding amount.

Ryan Selkis, the founder of Messari, a prominent data analytic firm in the crypto space, has pointed out the sheer number of funding rounds that have taken place this year in the crypto landscape.

According to Selkis, at least 33 investors have distinctly orchestrated no fewer than ten rounds of funding for crypto projects in 2023. To add to his claim, he shared a chart detailing the investors, the rounds funded alongside the entities, their co-investors, the type of funding, the crypto sector, and the amount committed.

Leading the chart was Coinbase Ventures, the corporate venture capital arm of the US-based Coinbase crypto exchange.

According to the chart, Coinbase Ventures has participated in over 324 funding rounds for at least 290 entities. Its most common type of funding was “Seed,” which represents the first round of funding that a startup company receives. Typically, such a fund is for developing a prototype, validating a business model, and hiring the first employees.

Notably, the chart indicated that Coinbase Ventures has an average round amount of $8 million. Furthermore, Selkis’ tweet caught the attention of Coinbase exchange CEO Brian Armstrong. He simply commented, “Bullish,” suggesting they believe in the long-term potential of the crypto projects.

The second on the ranking was Animoca Brands, a crypto-based gaming firm. The firm has participated in over 271 funding rounds, commonly seed funding, committing $5.5 million on average. According to the chart, the investor with the largest average funding amount was Andreessen Horowitz, a Silicon Valley software firm. Its average amount is $25 million.

Coin Edition recently reported that a US-based crypto firm secured $54 million in funding from a group of investors led by Andreessen Horowitz. It is worth mentioning that the sum of the funding rounds of the top 20 among the highlighted 33 investors is over 2,763.