Coinbase invested in a record 49 projects in Q3- report

Coinbase Ventures struck a caller concern woody astir each 2 days successful Q3 of 2021, details published successful the Coinbase blog show.

According to the October 29 blog post, Coinbase Ventures had inked a grounds 49 investments implicit the quarter, becoming 1 of cryptocurrency’s “most progressive VC investors.”

“In Q3, Ventures made a grounds 49 investments, averaging a caller woody each ~1.8 days,” Coinbase wrote, adding that the level has seen investments leap from 24 successful the archetypal 4th and 28 successful Q2.

Coinbase launched the Ventures level successful April 2018, targeting fiscal investments into early-stage start-ups successful the crypto and blockchain space. The task has seen deals ranging from six-figure dollar investments to multi-million financing rounds crossed decentralised concern (DeFi), Web3 infrastructure, centralized concern (CeFi), NFTs, and Metaverse platforms.

Protocols and Web3 person seen astir of the concern astatine 29%, portion DeFi (24%), CeFi (18%) and Developer Tools (15%) marque up the apical 5 categories.

As a effect of the maturation successful invested deals, CV present has helped much than 200 companies and projects crossed the market.

Crypto maturation successful 2021

Since its inception 4 years ago, Coinbase Ventures’ absorption has been connected projects aimed astatine accelerating maturation wrong the crypto ecosystem.

While commercialized partnerships and M&A formed portion of the concern strategy successful the past mates of years, 2021 has seen a batch of absorption autumn connected projects and companies targeting maturation crossed the full crypto ecosystem.

As such, 90% of invested superior crossed the Coinbase Ventures portfolio has travel successful 2021, with fractional of the companies successful the 200+ database added year-to-date.

Coinbase Ventures’ grounds concern comes arsenic a big of crypto-focused companies besides look to found a beingness successful the crypto space. Square and Twitter are 2 of the highlights, offering Bitcoin-focused adoption features precocious to adhd to efforts by Stripe and Tik Tok.