Sector Analysis
Investment activity broken down by sector
Investment Activity by Sector
| Sector | Deals | Total Invested | Avg Deal | Funds Active |
|---|---|---|---|---|
| Marketplace | 14 | $46.8B | $3.3B | 8 |
| Payments | 9 | $32.8B | $4.1B | 8 |
| AI | 22 | $18.9B | $859M | 10 |
| Fintech | 17 | $11.1B | $654M | 7 |
| Infrastructure | 126 | $6.2B | $56M | 44 |
| L1/L2 | 58 | $6.1B | $106M | 18 |
| Defense | 5 | $4.7B | $940M | 3 |
| Healthcare | 8 | $4.0B | $503M | 4 |
| Exchange | 28 | $3.9B | $186M | 20 |
| NFT/Gaming | 26 | $3.6B | $137M | 14 |
| Data | 5 | $3.3B | $669M | 5 |
| DeFi | 116 | $3.1B | $30M | 41 |
| SaaS | 10 | $2.1B | $213M | 7 |
| Logistics | 2 | $1.9B | $935M | 2 |
| Energy | 1 | $1.8B | $1.8B | 1 |
| Social | 17 | $1.5B | $95M | 14 |
| Aerospace | 2 | $1.5B | $750M | 2 |
| Layer 1 | 18 | $1.5B | $83M | 11 |
| Bitcoin | 6 | $1.3B | $210M | 4 |
| IoT | 1 | $805M | $805M | 1 |
| Wallet | 11 | $797M | $72M | 10 |
| HR | 4 | $700M | $175M | 4 |
| Design | 3 | $600M | $200M | 3 |
| Gaming | 12 | $552M | $92M | 9 |
| E-commerce | 4 | $507M | $127M | 3 |
| Autonomous | 2 | $500M | $250M | 2 |
| Food | 1 | $500M | $500M | 1 |
| DevTools | 3 | $275M | $92M | 3 |
| ZK | 8 | $265M | $66M | 6 |
| Layer 2 | 12 | $249M | $21M | 12 |
| Manufacturing | 2 | $234M | $117M | 2 |
| Biotech | 1 | $205M | $205M | 1 |
| NFT | 7 | $202M | $29M | 5 |
| Communications | 3 | $195M | $65M | 2 |
| Music | 1 | $170M | $170M | 1 |
| Security | 3 | $160M | $53M | 3 |
| Safety | 1 | $150M | $150M | 1 |
| Identity | 1 | $100M | $100M | 1 |
| ZK/Privacy | 1 | $100M | $100M | 1 |
| AI x Crypto | 3 | $77M | $26M | 2 |
| InsurTech | 1 | $75M | $75M | 1 |
| Asset Management | 2 | $70M | $70M | 2 |
| Education | 3 | $65M | $33M | 3 |
| Consumer | 1 | $50M | $50M | 1 |
| Cross-chain | 1 | $25M | $25M | 1 |
| DePIN | 2 | $18M | $18M | 2 |
| Mining | 1 | $15M | $15M | 1 |
| CeFi | 1 | $10M | $10M | 1 |
| DAO | 1 | $10M | $10M | 1 |
| Storage | 2 | $8M | $4M | 2 |
| MEV | 2 | $8M | $4M | 1 |
| Oracle | 2 | $6M | $3M | 2 |
| Metaverse | 1 | $6M | $6M | 1 |
| Community | 1 | $5M | $5M | 1 |
| Database | 1 | $5M | $5M | 1 |
| DevOps | 1 | $5M | $5M | 1 |
| Insurance | 1 | $5M | $5M | 1 |
| Restaurant Tech | 1 | $5M | $5M | 1 |
| NFT/Trading | 1 | $3M | $3M | 1 |
| Bitcoin DeFi | 1 | $3M | $3M | 1 |
| Creator | 1 | $1M | $1M | 1 |
| DAO Tools | 1 | $1M | $1M | 1 |
| Analytics | 2 | — | — | 2 |
| Browser | 1 | — | — | 1 |
| Custody | 3 | — | — | 3 |
| L1 | 10 | — | — | 9 |
| L2 | 1 | — | — | 1 |
| Launchpad | 1 | — | — | 1 |
| Lending | 1 | — | — | 1 |
| Media | 1 | — | — | 1 |
| RWA | 2 | — | — | 2 |
| Wallets | 2 | — | — | 1 |
Funding Rounds by Sector
InfrastructureLast: 2025-03
$15.0B
124 rounds tracked
L1/L2Last: 2025-03
$5.6B
74 rounds tracked
NFT/GamingLast: 2024-04
$3.8B
28 rounds tracked
ExchangeLast: 2022-11
$3.6B
21 rounds tracked
DeFiLast: 2025-02
$1.8B
98 rounds tracked
StablecoinLast: 2025-01
$1.3B
9 rounds tracked
PaymentsLast: 2024-10
$981M
9 rounds tracked
Layer 1Last: 2025-01
$825M
7 rounds tracked
NFTLast: 2023-05
$633M
4 rounds tracked
DataLast: 2025-02
$558M
12 rounds tracked
WalletLast: 2025-01
$540M
10 rounds tracked
SocialLast: 2024-07
$491M
11 rounds tracked
Top 20 Largest Rounds
Paradigm Fund IIStrategicInfrastructure
$2.5B2021-11
a16z Crypto Fund IIIStrategicInfrastructure
$2.2B2021-06
Haun Ventures Fund IStrategicInfrastructure
$1.5B2022-03
Bitfinex (LEO)Private SaleExchange
$1.0B2019-05
FTXSeries BExchange
$900M2021-07
Polychain Capital Fund IVStrategicInfrastructure
$750M2021-04
ForteSeries BNFT/Gaming
$725M2021-11
SorareSeries BNFT/Gaming
$680M2022-09
MoonPaySeries APayments
$555M2022-01
FireblocksSeries EInfrastructure
$550M2022-01
FireblocksSeries EInfrastructure
$550M2022-01
Yuga LabsSeedNFT/Gaming
$450M2022-03
ConsenSysSeries DInfrastructure
$450M2022-03
Polygon (Matic)StrategicL1/L2
$450M2022-02
PolygonStrategicL1/L2
$450M2021-02
Yuga LabsSeedNFT
$450M2022-03
ConsenSysSeries DInfrastructure
$450M2022-03
CircleStrategicStablecoin
$440M2021-05
FTXSeries CExchange
$421M2021-10
BitmainPre-IPOInfrastructure
$400M2018-08
Yearly Trends
2025
Infrastructure
$429M12 rounds
Wallet
$150M1 rounds
DeFi
$114M3 rounds
Layer 2
$90M2 rounds
Data
$75M1 rounds
2024
Infrastructure
$1.3B31 rounds
L1/L2
$564M18 rounds
Social
$380M4 rounds
AI x Crypto
$330M9 rounds
Layer 1
$325M2 rounds
2023
Infrastructure
$968M19 rounds
L1/L2
$424M15 rounds
Privacy
$225M2 rounds
Layer 2
$130M3 rounds
DeFi
$127M20 rounds
2022
Infrastructure
$4.4B18 rounds
NFT/Gaming
$2.6B13 rounds
L1/L2
$2.2B12 rounds
NFT
$580M2 rounds
Payments
$555M1 rounds
2021
Infrastructure
$6.7B14 rounds
L1/L2
$1.4B10 rounds
Exchange
$1.3B2 rounds
NFT/Gaming
$1.2B6 rounds
Stablecoin
$740M2 rounds
2020
Stablecoin
$142M1 rounds
DeFi
$135M11 rounds
Data
$100M1 rounds
Infrastructure
$77M7 rounds
NFT/Gaming
$11M1 rounds