Crypto Venture Capital in Q2/2025 Explodes with $10.03 Billion, the Highest Level Since Early 2022, Signaling a Strong Market Recovery.
The crypto Venture Capital (VC) market recorded an impressive recovery in Q2 2025 with total transaction value reaching $10.03 Billion. This was the most active investment quarter since Q1 2022, when the market peaked with total capital raised of $16.64 Billion. This strong growth indicates that investors are ready to return with a higher risk appetite, after a long period of market caution.
Notably, in June 2025 alone, crypto startups successfully attracted $5.14 Billion, the highest monthly figure since January 2022, reflecting an increasingly clear recovery speed.
The capital recovery was primarily driven by large-scale and highly influential market transactions. The most notable was Strive Funds' successful raise of $750 Million in May—an asset management company founded by entrepreneur Vivek Ramaswamy—to deploy alpha-generating strategies related to Bitcoin investments.
Immediately following was TwentyOneCapital with $585 Million raised in April. The asset Tokenization platform Securitize also completed a $400 Million funding round, demonstrating investors' special attention to digital asset sectors. Additionally, notable deals like Kalshi ($185 Million) and Auradine ($153 Million) contributed to investment segment diversity.
On the investor side, Coinbase Ventures stood out with 25 transactions in the quarter. The dynamism of Coinbase Ventures, along with major names like Animoca Brands, Andreessen Horowitz (a16z) and Pantera Capital, were crucial drivers of the quarter's vibrant trading activity. Investments spanned multiple sectors, notably blockchain infrastructure and decentralized finance (DeFi), while CeFi, Non-Fungible Token, and GameFi sectors also attracted significant investment, though at lower levels.
In terms of investment structure, seed rounds represented the largest proportion at 19.43% of the 1,673 transactions recorded in the past year, indicating investors are actively betting on early-stage projects. Strategic rounds accounted for 14.23%, reflecting market preference for strategically valuable, long-term projects.
Positive signals were further reinforced through continuous successful fundraising by major funds. Last month, Galaxy Digital completed its first external Venture Capital fund, exceeding initial targets with total Capital of $175 Million, focusing on high-growth potential areas like stablecoin and asset Tokenization.
Similarly, Theta Capital Management successfully raised over $175 Million for a new fund-of-funds. The success of these large funds indicates that smart money is ready to participate in the next growth cycle of the crypto asset market.
