Despite the ICO craze of 2017, cryptocurrency startups are still landing venture capital funding. Per the PitchBook Platform, VC interest in the sector is increasing: 2017 has, unsurprisingly, brought a record amount of venture capital—more than $1 billion—to startups in the sector.
In the last two years, 179 investors have participated in at least one VC deal for a crypto startup, according to PitchBook data. In the last week alone, Bitwise raised $4 million from Khosla Ventures, General Catalyst and others for its cryptocurrency index fund. BitGo, which helps businesses integrate cryptocurrencies into their financial systems, secured a $42.5 million Series B led by Valor Equity Partners. And bitcoin payments provider BitPay raised a $30 million Series B led by Aquiline Technology Growth.
The most active US-based investors in the space over the last two years are, for the most part, firms devoted to backing crypto startups, with the addition of a couple traditional VC investors who have undertaken their own forays into the bitcoin/blockchain universe.
Here's a look at the top eight, including investment count:
1. Digital Currency Group (40)
T-2. Pantera (8)
T-2. Hard Yaka (8)
T-2. Blockchain Capital (8)
T-3. Andreessen Horowitz (7)
T-3. Union Square Ventures (7)
T-3. Draper Associates (7)
T-3. Boost VC (7)
