According to BlockBeats, an analysis of fundraising data from Token Terminal and market data from Artemis reveals interesting insights into the best performers in the crypto venture capital sector. Despite occasional missing or undisclosed funding rounds, the available data provides valuable information on historical investments and their returns.
The analysis ranks investments based on the fully diluted market capitalization (FDMC) to funding amount ratio as of the end of Q3 2024. The top investments from 2015 to 2017, 2018 to 2021, and 2022 to 2024 are highlighted, showcasing the most successful ventures in each period.
Key investors leading these high-return rounds include Multicoin Capital, Polychain Capital, Paradigm, and Pantera Capital. Notably, Animoca Brands and a16z Crypto stand out as the only firms to lead multiple high-return deals. Among over 5000 unique investors, only 42 companies or individuals led one or more projects with significant token value appreciation by Q3 2024.
The most active funds in these rounds include CB Ventures, Dragonfly Capital, Delphi Digital, USV, Slow Ventures, Naval Ravikant, BlockTower Capital, Scalar Capital, Placeholder VC, Maven 11 Capital, Maelstrom Fund, Lightspeed Venture Partners, Hypersphere Ventures, Hashed, Dialectic Group, ConsenSys, and 1kx Network. In total, 221 companies or individuals participated in top-tier venture deals with notable token value increases by Q3 2024.
The analysis also considers the hit rate of investors, factoring in the total number of deals each investor participated in. BlockTower Capital is particularly noteworthy for its high hit rate. A dynamic matrix was constructed to provide an overview of the sector's funds, with the goal of all funds eventually reaching the top-right quadrant of the matrix.
This analysis aims to offer valuable insights and welcomes feedback for future improvements. Regular updates to the data are planned to ensure accuracy and relevance.
