Q1 2023 Crypto Fundraising Report

Apr 25, 2023

Executive Summary

Click Here for the full report.

Crypto VC funding has continued its downtrend since peaking in the beginning of last year. Q1 2023 marked the fourth consecutive quarter of declines in total fundraising amount and deal count. Despite its decline from peak funding levels, the industry has proved its resilience, with funding levels still greater than 4x that of the previous bear market. We will be watching to see if the March U.S. banking crisis will have delayed adverse effects on the private market. Deals have been smaller and concentrated in the early stages, as...

Finish reading this report for free

Enter your email and we'll send the paywall-free report directly to your inbox

Articles Read: 2/2

In addition to your unlocked report, you will receive our weekly market newsletter Fundstrat Snapshot, as well as occasional updates and offers from Fundstrat Direct. You can unsubscribe at any time.

Get unlimited access to Tom Lee's Fundstrat research Subscribe
Already a member? Log in
Fundstrat Direct footer logo

150 East 52nd St, 3rd Floor New York, NY 10022

SUBSCRIBE TO OUR FREE RESEARCH REPORTS

An institutional-grade report delivered to your inbox every week.

© 2026 Fundstrat Direct. All rights reserved.

Illustrations by Karl Wimer.