TechFlow news, according to Cointelegraph, despite overall insufficient liquidity in the cryptocurrency market, crypto venture capital funding rebounded in August. According to DefiLlama data, crypto VC investment reached $633 million in August, an increase of over 15% compared to $550 million in July.
Luca Prosperi, CEO and co-founder of M^0 Labs, said that most VC interest is concentrated in blockchain infrastructure development companies. He expects VCs will continue focusing on infrastructure, middleware, and application layers.
Ganesh Swami, CEO and co-founder of Covalent, pointed out that VCs have not yet shown interest in investing in applications, with investments still primarily focused on infrastructure. He believes the approval of Bitcoin and Ethereum ETFs served as a catalyst for VCs' renewed interest returning from the AI sector.
On August 28, VC firm Lemniscap announced securing funding for a new $70 million fund that will focus on early-stage Web3 startups, further demonstrating growing VC interest in the crypto space.
