Venture capital (VC) funds invested $485 million in crypto startups in February, according to DefiLlama data. This represents a 5.3% month-to-month growth and the highest investment volume of the last three months.
Infrastructure-related startups got most of the capital in February, with $387 million directed to those projects. EigenLayer got a $100 million investment from a16z through a private round, making it the largest VC allocation in crypto startups in February.
Liquid staking platform EtherFi captured another significant investment of $27 million in a series A round led by Bullish and CoinFund. The payments platform Oobit also conducted a successful series A funding round, with a $25 million allocation led by Tether and CMCC Global.
Teams building decentralized finance (DeFi) products also got attention from investors, with over $48 million destined for those projects in February. Superform Labs received $6.5 million in a seed round led by Polychain Capital to build a universal yield marketplace.
Omega’s plans to build a DeFi ecosystem on top of Bitcoin were also well received by investors, leading to a $6 million private round with the participation of Borderless Capital and Blockchain.com.
Web3-focused applications gathered almost $18 million from VCs last month. Beoble got $7 million from funds like Samsung Next and Hashkey Capital to build a Web3 messaging app and social platform, the largest investment round in this crypto sector.
Gaming projects garnered $33 million, with new game studios receiving the most relevant investments. Pantera Capital led the $8 million series A round from gaming studio Helika. Another $8 million was invested in the Web3 game Pixelmon, with the participation of Animoca Ventures and Delphi Ventures.
