Analysts studied the activity of venture capitalists

Root Data researchers released a report on venture capital investments in the cryptocurrency industry. They collected data on 30 projects on Binance Launchpool starting in November 2021. During this period, 288 institutional and individual investors participated in funding rounds.

Among them, Binance Labs was the leader with 190 startups in its portfolio. This company was active in 11.05% of launch pool projects. However, in light of recent discussions regarding “nepotism” on the part of the organization, only 2 of the last 8 crypto tokens on Launchpool were sponsored by this company. Among them were Ethena and Renzo Protocol.

Other active participants included Coinbase Ventures, OKX Ventures, Dragonfly Capital, Polychain Capital, and GSR. They have invested in 5 or more startups. Among individual investors, Kane Warwick, who founded the Synthetix project, was noted.

Note that the entrepreneur successfully invested in both rounds for Ethena. In addition, he invested in startups Hashflow, AltLayer and Aevo. EthHub co-founder Anthony Sassal also took part in several rounds of financing.

The researchers noted that they recorded only 3 investments from the famous venture capital organization Andreessen Horowitz. This suggests that a16z representatives are actively exploring “the commercial boundaries of Web3 and innovations in the field of cryptocurrency regulation.”

Binance Launchpool is a platform created by the Binance exchange. It allows users to earn new cryptocurrencies by participating in decentralized finance (DeFi) projects, staking and pharming. Clients of the site can invest in certain startups, providing liquidity in exchange for rewards in the form of new tokens.