Outlier Ventures Weekly Brief Issue #73
Join us for Diffusion Digital on May 28 to learn more about Web 3 from some of the most prominent founders, investors and builders!

Today we have Ana from our investment team taking over from Joel to share a few insights into the latest in fundraising in crypto land.

If I was going to say 2020 is an interesting year, that’d be an understatement. We had a new event that shook the global scene every couple of weeks since day one. And the latest was the fight between an understated novel virus strain and the globalised society. Nation-wide lockdowns followed gradually across Europe and the US, shaking most organisations as they had to implement 'working from home'.

So today we are looking at what happened with fundraising in March and April in the world of Web 3. While March held down the fort, April showed first signs of pullback. In March we saw one massive raise from Bakkt for $300m and the rest $117m were split across 39 deals. This was approximately on par with Q1 a year earlier. In April that number halved to nearly $50m split amongst 32 deals. Yes, things are getting rough but we do our best to help founders navigate the space.

Many investors spent the first 6 weeks of the global lockdowns assessing, triaging and helping portfolio companies and spent numerous hours in emergency board meetings. Deals were put on hold. In May we are seeing people slowly going back to normal working hours as portfolio companies have their scenarios planned.

Join me at Diffusion Digital to learn more first hand from some of the most prominent Web 3 VCs!

In March the most popular category was DeFi but the most funded was Identity. In April both most popular and most funded was DeFi. March saw some Pre-seeds, Seeds and Series As as well as a Token round whereas April saw more Seeds, one Series B and 2 Token rounds. Government funding is now playing an important role in bridging the gap between long sales cycles, frozen funding and revenues.

One positive impact the pandemic had was on the digital transformations world (excluding worst hit industries). More companies realised their processes are bulky and they need automation - especially in supply chains. Digital transformation budgets are now growing and we’re expecting to see some interesting implementations.

To learn more about fundraising in a financial crisis, join us for Diffusion Digital on the 28th May and see some of the most prominent Web 3 investors, founders, builders and enterprises!

Make sure you're signed up for Diffusion Digital 💥
The ultimate Web 3 experience without leaving your home 🚀

Featuring some of the most brilliant builders and creators of Web 3 like CZ from Binance, Illia from NEAR, Sergey from Chainlink, Emma Cui from Longhash Ventures, Eyal Hertzog from Bancor, Min Teo from Consensys, Ben Livshits from Brave & Agoric's Mark Miller among loads of others.

Explore the journey from Web 2 to Web 3 through our pitches, talks, panels, and live Q&A with some of the biggest companies in the ecosystem. You’ll also hear from our brilliant Base Camp cohort (the latest teams in our Web 3 accelerator) and experience first-hand the people driving the next major web cycle forward. We look forward to hosting you!

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