VC Funding Rebounds in Q2 2025 as Crypto Investment Sees Strongest Quarter Since Q1 2022

Global venture capital investment in the cryptocurrency sector rebounded sharply during the second quarter of 2025, raising a record $10.03 billion. This marked the most intense period for crypto investing since the first quarter of 2022, which saw $16.64 billion invested.

June 2025, in particular, set a new benchmark, concluding with $5.14 billion raised — the highest monthly total since January 2022, according to CryptoRank data. This surge indicated a recovery in appetite and investor confidence after several months of relative stagnation.

Lead Movers: Major Raises and Notable Players

Several prominent funds secured substantial funding within this quarter. Strive Funds, the asset manager co-founded by Vivek Ramaswamy, raised $750 million in May to pursue “alpha-generating” Bitcoin-related strategies.

TwentyOneCapital followed, raising $585 million in April. Securitize placed third with a $400 million raise, while other significant participants included Kalshi ($185 million), Auradine ($153 million), ZenMEV ($140 million), and Digital Asset ($135 million).

Q2 Deal Activity Dominated by Coinbase Ventures

Across the quarter, Coinbase Ventures emerged as the most active investor by deal count, leading with 25 transactions between April and June. Alongside Animoca Brands, Andreessen Horowitz (a16z), and Pantera Capital, they were instrumental in driving the quarter’s increased deal volume.

In June specifically, Coinbase Ventures led the month with 10 deals, surpassed by Pantera Capital’s eight investments, followed by five from Galaxy and four from Paradigm (which led by number of led investments). Other notable investors included Animoca Brands, a16z, Cyber Fund, and GSR.

Across Q2, capital was distributed across various sectors, with blockchain infrastructure and Decentralized Finance (DeFi) attracting significant interest. Traditional Finance (CeFi), NFTs and GameFi (GameFi) categories saw moderate activity, though memecoin funding, despite occasional bursts, remained relatively flat.

Over the past twelve months, seed-stage funding rounds accounted for the largest share of total crypto fundraising (19.43% of 1,673 tracked deals). Strategic rounds represented the next tier at 14.23%. Pre-seed deals and M&A activity also had notable visibility at 9.26% and 9.44% respectively. Series A rounds made up 6.34% of activity, while incubation-stage deals comprised a smaller percentage (3.35%), according to CryptoRank.

Significant Fundraising Announcements

Galaxy Digital successfully closed its inaugural external venture fund, raising $175 million, exceeding its initial $150 million target. The fund targets high-growth areas like stablecoins, tokenization, payments, and associated infrastructure.

Amsterdam-based Theta Capital Management also raised more than $175 million for its most recent fund-of-funds, designed to support early-stage blockchain startups.