ChainCatcher Event Highlights Growing Focus on Quality Primary Investments in Crypto

ChainCatcher's Crypto VC Roast highlights a growing VC focus on quality primary investments, shifting from hype-driven projects. Prominent VCs discussed high-level strategic investments and future directions for crypto funding and project development. The event underscores a broader push among VCs to support sustainable, quality projects, leading to increased attention to foundational technologies like DeFi and infrastructure. Crypto VC funding is projected to increase 15% in 2024, despite fewer deals.

The crypto funding sector has witnessed a significant shift in focus towards quality primary investments, with a marked decrease in hype-driven projects. This trend was underscored at ChainCatcher's recent Crypto VC Roast, where prominent VCs discussed high-level strategic investments and the future directions for crypto funding and project development. The event highlighted a broader push among VCs to support sustainable, quality projects, leading to increased attention on foundational technologies like DeFi and infrastructure.

According to Crypto Fundraising data, the total investments in the crypto sector reached $470.75 million from April 20-26, with Bitdeer Technologies Group securing the largest amount of financing, raising $179 million in loans and equity [1]. Bitdeer, a Singapore-based technology company specializing in blockchain and high-performance computing, received backing from Matrixport, founded by Bitdeer Chairman Jihan Wu. This investment is a testament to the growing interest in quality primary investments.

Upexi, another notable project, raised $100 million through a private placement deal, selling 35.97 million shares and 7.89 million pre-funded warrants at $2.28 each. GSR led the investment, joined by top crypto VCs and notable angels. Upexi plans to use $5.3 million for working capital and debt reduction, with the rest allocated to building its Solana treasury and accumulating Solana (SOL) [1].

Alpaca, a self-clearing broker-dealer, raised $52 million in a Series C round, aiming to support its global expansion and serve enterprise institutions and fintech in key regions like the US, the Middle East, and Asia [1]. The funding will help Alpaca pursue continued global expansion, following the successful launch of several key products in 2024.

StepStone Group Inc. also raised $705 million for its fourth growth equity fund, targeting technology and healthcare sectors with strong investor backing. The fund received support from various investors, including sovereign wealth funds and family offices, aiming to capitalize on high-growth opportunities in these sectors [2].

The shift towards quality primary investments is projected to continue, with crypto VC funding expected to increase by 15% in 2024, despite fewer deals. This trend reflects a broader push among VCs to support sustainable, quality projects, leading to increased attention on foundational technologies like DeFi and infrastructure.

References:
[1] https://crypto.news/crypto-vc-funding-bitdeer-179m-upexi-100-million/
[2] https://www.nasdaq.com/articles/stepstone-group-inc-raises-705-million-stepstone-tactical-growth-fund-iv-focused-growth