VC Capital Continues to Flow to Alt-L1's

Funding slid lower this week from $284M to $182M. Continuing the trend of the last three weeks, infrastructure deals comprised the bulk of funding, with 9 deals amounting to $126M or 69% of total funding. Most of this infrastructure funding came in the form of Alt Layer-1 investments in Sei and EOS. The financial verticals had a lackluster week – DeFi and CeFi received just $4M and $7M of financing, while Web3 and NFTS and Metaverse and Gaming fared slightly better, raising $16M and $28M, respectively.