The post Balance brings in $30m, Hypernative collects $16m appeared on BitcoinEthereumNews.com.

Venture capitalists are raising a ton more money for crypto-related funds this year compared to last year’s dismal downturn. According to the latest report from PitchBook, published on Sept. 5, the median fund size is up 65.1% to $41.3 million in 2024. Nowadays, it’s common for crypto-savvy investors to put together midsized crypto VC funds — coffers ranging from $100 million to $500 million. “These funds are large enough to support industry growth but small enough to avoid the deployment challenges faced by megafunds, making them crucial to the current ecosystem,” PitchBook Senior Analyst Robert Le writes. But just because the money is there doesn’t mean VCs aren’t cautious. According to Le, the time between fundraises and the duration to close funds have both lengthened over the past three years. “This trend signals a challenging fundraising environment ahead as LPs become more selective and risk-averse in the wake of recent market downturns,” Le adds. It’s worth noting that, in the second quarter of this year, Galaxy data shows VCs invested just under $3.2 billion (a 28% increase quarter-over-quarter) into crypto and blockchain-focused companies. But, that money was allocated to 577 deals — a 4% decrease quarter-over-quarter. In the prior three-month period, VC investment into crypto and blockchain startups increased by 29% compared to the previous quarter, totaling about $2.49 billion across 603 deals. In this week’s column, crypto.news is spotlighting some of the startups that grabbed headlines in recent days. According to crypto fundraising tracker, Crypto Fundraising, these companies raised close to $70 million in disclosed VC between Sept. 1 and Sept. 7. Balance, $30 million Gaming platform E-PAL introduced Balance, a new AI-powered blockchain experience platform, following two successful funding rounds led by Andreessen Horowitz (a16z) and Galaxy Interactive. Animoca Brands, K5, CLF Partners, MK Capital, Heights Fund, AMBER,…

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Filed under: News - @ September 7, 2024 5:25 pm