Venture Funding Drops But Crypto Hedge Funds Get Huge Inflows

Venture funding fell to its lowest level all year at $212M, down over 50% from $503M last week. Total deals also nearly got cut in half, falling from 47 to 22. The largest drops in funding came in the infrastructure and Metaverse/Gaming segments, which were each particularly high last week. Surprisingly, NFT funding increased to its highest level in weeks at $81M. There were four NFT deals, the largest of which being Gary Vaynerchuk’s Veefriends, which raised $50M in a Seed Round. The majority of deals occurred in the early stages, with 63.6% of the deals being Seed Round.