Coinbase Ventures closed a new investment deal almost every day in the third quarter of 2021, details posted on the Coinbase blog.
According to the October 29 blog post, Coinbase Ventures made a record 49 investments in the quarter, becoming one of the cryptocurrency’s “most active venture capitalists”.
“In the third quarter, Ventures made a record 49 investments, averaging one new deal every ~ 1.8 days,” Coinbase wrote, adding that the platform saw its investments drop from 24 in the first quarter to 28 in the second. trimester.
Coinbase launched the Ventures platform in April 2018, targeting financial investments in early-stage startups in the crypto and blockchain space. The project has seen deals ranging from six-figure investments to multi-million dollar funding rounds in decentralized funding platforms (DeFi), Web3 infrastructure, centralized funding (CeFi), NFT, and metaverse.
Protocols and Web3 accounted for the majority of investments at 29%, while DeFi (24%), CeFi (18%), and Developer Tools (15%) made up the top five categories.
Due to the growth of invested transactions, CV has already served more than 200 companies and projects in the market.
Crypto growth in 2021
Since its inception four years ago, Coinbase Ventures has focused on projects to accelerate growth within the crypto ecosystem.
While trade partnerships and mergers and acquisitions have been part of the investment strategy for the past two years, in 2021 much attention has been paid to projects and companies seeking growth across the UK crypto ecosystem.
Thus, 90% of the capital invested in the Coinbase Ventures portfolio arrived in 2021, with half of the companies on the list added more than 200 since the beginning of the year.
Coinbase Ventures’ record investment comes as various crypto-focused companies are also looking to establish a presence in the crypto space. Square and Twitter are two of the most prominent, recently offering Bitcoin-centric adoption features to add to Stripe and Tik Tok’s efforts.