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DEC 3, 2023

Fundraising of the Month: November 23

by Nova Research, 9iC58vWrjHCbUJE5RHbRS5Atr2GCE4143vfFZZoW3g4x

November 2023: A Snapshot of Crypto Fundraising Metrics
November 2023 — Fundraising Recap
November 2023 — Fundraising Recap
In November 2023, the digital asset sector witnessed a notable milestone, marked by remarkable fundraising achievements that resonated across the industry. Rigorous data analysis conducted by Nova Research underscores a substantial upswing in crypto fundraising, as illustrated below:
  • $953.5 Million Raised: A striking surge in capital was raised during the month, reaching an impressive $953.5 million. This represents a significant increase of 151.98% over October, highlighting robust confidence and momentum within the investment community.
  • 91 Projects Funded: The month saw the successful funding of 91 diverse projects, demonstrating the vibrancy and dynamism inherent in the blockchain and crypto ecosystem. This number marks a 24.66% increase over the previous month.
  • 90 Investors Engaged: The participation of 90 different investors in November, marking a notable 63.64% increase from October, indicates a broad and deepening interest in the potential of digital assets. This diverse investment activity demonstrates a strong and diversified commitment to the evolving landscape of digital assets.
November 2023 — Fundraising Recap
November 2023 — Fundraising Recap
The fundraising landscape of November 2023 provides crucial insights into prevailing market sentiments and conditions. There was a notable focus on early-stage funding, especially in Seed rounds, and a robust presence in the Private Sale Round. These trends highlight strategic decisions made by investors to support early-stage projects in anticipation of a potential bull market.
  • Seed Rounds: A total of 33 projects successfully secured approximately $164.1 million in Seed rounds, with an average funding round size of around $4.9 million, consistent with the 5.22 million average from the previous month.
  • Private Sales: In November, private token sales gained traction as 17 projects raised over $121 million, with an average round size of $7.1 million.
Notable Investments of November 2023:
The fundraising trend in November reflects the dynamic sentiment of the cryptocurrency industry. Amid bullish trends, a substantial flow of capital, particularly directed towards early-stage projects, underscores the industry’s optimism and confidence in the long-term potential of digital assets. Additionally, large funding rounds and acquisitions indicate that established players are preparing to scale for mass adoption.

Deep Dive into Fundraising Segments and Categories

November 2023 — Fundraising Recap
November 2023 — Fundraising Recap
As technology and blockchain landscapes undergo continuous evolution, fundraising plays a pivotal role in shaping the future of various sectors. A detailed examination of the funding rounds in November 2023 unveils intriguing patterns and insights, offering a glimpse into the industry’s trajectory. Let’s break down the significant segments and categories based on the presented data::
  1. Infrastructure: Taking the lead in fundraising, the Infrastructure category stands out with the highest total funds raised. Within this category, Interoperability and Zero-Knowledge emerge as noteworthy subcategories.
  2. DeFi: In the ever-expanding landscape of decentralized finance (DeFi), fundraising activities contribute significantly. DEXs and Derivatives are the most funded subcategories.
  3. Wallet: Fundraising activities in the Wallet category play a crucial role in the development of secure and user-friendly solutions for managing digital assets. The emphasis on this segment suggests a growing demand for advanced wallet technologies, in particular wallet multi-chains, and that support account abstractions were the most funded.
  4. Gaming: The Gaming sector continues to maintain a prominent position even this month as one of the top categories. This is demonstrated by a notable presence in fundraising activities, indicating a continuous intersection of blockchain technology and the gaming industry. Gaming remains a driving force for the adoption of web3 applications. Among the most significant subcategories, we can find Play to Earn and Metaverse.
  5. Asset Management: Within the broader context of blockchain-based financial services, the Asset Management category gains prominence. Fundraising efforts in this segment underscore the importance of efficient and decentralized asset management solutions.
As these categories represent pivotal areas within the blockchain landscape, their fundraising patterns provide valuable insights into the industry’s current focus and future trajectory.

Investor Insights from November 2023 Fundraising Data

November 2023 — Fundraising Recap
November 2023 — Fundraising Recap
Investors wield significant influence in molding the course of projects. Their investment strategies, preferences, and areas of focus offer invaluable insights into ongoing trends and the prospective trajectory of the industry. Let’s delve into the patterns and inclinations of key investors based on the fundraising data from November 2023:
  1. The Spartan Group: Based in Hong Kong and Singapore, The Spartan Group is a digital asset management company comprising three different business branches: Advisory, Investments, and Studio. The main areas of focus are DeFi, Infrastructure, and Gaming & Metaverse.
  2. Animoca Brands: Animoca Brands is one of the largest and most active investors in Web3, with a portfolio of over 400 Web3 investments, both directly and through Animoca Ventures. They invest in both equity and tokens with a particular focus on Metaverse and Gaming.
  3. Foresight Ventures: Based in Singapore, Foresight Ventures is dedicated to backing Web3 projects through four funds: VC fund, Actively-managed secondary fund, Multi-strategy FOF, and Private market secondary fund. The main areas of focus are DeFi, Infrastructure, GameFi, NFT, Wallet, and Social.
  4. Hashkey Capital: Based in Singapore and active since 2015, HashKey Capital invests from Pre-Seed to Series B+, across both equity and tokens. The main areas of focus vary across the stack (from layer0 to dapps) and sectors (from ZK to NFTs).
  5. Shima Capital: Based in San Francisco and active since 2021, Shima Capital operates as an early-stage VC in the Web3 space. The main areas of focus are Analytics, DeFi, ReFi, Consumer, Infrastructure, and Gaming.

Conclusion

In conclusion, the fundraising landscape in November 2023 has been a testament to the burgeoning strength and potential of the digital asset sector. The substantial increase in capital raised, the diversity of projects funded, and the surge in investor engagement all point to a robust and dynamic market. This period has been marked by strategic investments in early-stage projects, particularly in Seed rounds and Private Sales, reflecting investor confidence in the long-term prospects of these ventures. The emphasis on Infrastructure, DeFi, Wallet, Gaming, and Asset Management categories indicates where the industry is heading, with major players like The Spartan Group, Animoca Brands, Foresight Ventures, HashKey Capital, and Shima Capital leading the charge. These insights not only highlight the current state of the digital asset market but also provide a window into its evolving trajectory, signaling a period of significant growth and innovation ahead. This is just the start of an exciting new trend.

About

Curious about the current state of web3 fundraising? We’re thrilled to unveil our latest update — a dedicated section on our website that provides real-time insights into the most recent fundraising events within the web3 space.
https://novaresearch.io/fundrasings
https://novaresearch.io/fundrasings
The data we provide is meticulously categorized and exhaustive, providing a comprehensive view of the fundraising landscape. We explore:
  • Funding Rounds: We provide exhaustive coverage spanning a wide range of rounds, from the initial Pre-seed stages to the advanced Series E, encompassing both private and public fundraising efforts.
  • Deal Structures: Our dataset encapsulates a diverse array of deal formulations including, but not limited to, SAFT (Simple Agreement for Future Tokens), SAFE (Simple Agreement for Future Equity), hybrids like SAFE combined with Token Warrants, as well as the conventional Equity Raised arrangements.
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