Cbinsights-2022年区块链状况报告

Stateof

Blockchain

Global|2022recap

Globaldataandanalysisondealmaking,funding,

andexitsbyprivatemarketblockchaincompanies

StateofBlockchain

2

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StateofBlockchain

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StateofBlockchain

DigDeeper.

CBInsightsclientscanfindandtrack

companiesusingouranalyst-curated

ExpertCollections.

Blockchain

Web3

NFTs,Gaming,&Metaverse

CryptoExchanges&Wallets

BlockchainInfrastructure&Development

Blockchain

7

StateofBlockchain

OurMostPopularResearchon

Blockchain

InFTX’sbankruptcy,herearethe

top10investmentandM&A

holdingscreditorsshouldbe

lookingat

WhatisWeb3?Howa

decentralizedinternetcould

upendthedigitaleconomy

100+Web3companiesbuilding

thefutureoftheinternet

AnalyzingGoogle’sblockchain

strategy:Howthesearchgiantis

preppingforWeb3

HowAmazon,Microsoft,and

GooglearesupportingWeb3and

blockchaindevelopment

TheFutureofInvesting:How

technologyisreshapingwealth

andassetmanagement

AnalyzingBlock’sgrowth

strategy:Howthefintechgiant

formerlyknownasSquareis

evolvingbeyondpayments

StateofEnterpriseBlockchain

2022

125companiesbuilding

blockchainandcryptosolutions

forpaymentsleaders

105companiesofferingcrypto

servicesforinstitutional

investors

StateofBlockchain

blockchainin2022

TLDRYourrundownon

$26.8B-64%-24%

Globalblockchainfundingin2022.

Blockchainventurefundinganddealshitnewhighsin2022,proppedupbyastrongQ1.Butastheyearprogressed,thecryptowintercaused3straightquartersofdeclinesinfundinganddeals.Investorsrepeatedlyscaledbackduetomacroeconomicpressures,astablecoincollapse,multiplecryptobankruptcies,andthefallofFTX.

Seethedata→

DeclineinfundinginQ4’22vs.Q4’21.

Q4’22wastheworstquarterforblockchainfundingsince2020withonly$3.2Braised.ThedownquarterwasnosurpriseaftertheFTXbankruptcyinNovember,whichledtoacrashincryptoprices,alossofconsumertrust,andawebofaffectedcounterparties.ThegreatestfundingdeclinesinQ4’22vs.Q4’21wereincryptoexchangesandwallets,NFTs,gaming,andmetaverse.

Seethedata→

Dropinaveragedealsizein2022.

Theaverageblockchaindealsizefellfrom$21.2Min2021to$16.2Min2022,drivenbyasharpdropin$100M+mega-roundsthroughouttheyear.Mega-roundssankfrom49inH1’22to16inH2’22.Themacroeconomicdownturncoupledwiththecryptowinterchilledinvestorenthusiasm.Additionally,investorsgainedmorepoweroverdealsizesaslesscapitalchasedfewerdeals.

Seethedata→

79

Totalunicorns

afteronly2births

inQ4’22.

Theblockchainunicorncountstalledoutat79attheendof2022.Whilethetotalcountwasmuchgreaterthanitwasattheyear’sstart(46),mostoftheadditionscameinH1’22.ThegrandeurofunicornstatuswasmarredbythedownfallsofCelsius,FTX,andBlockFi.The2unicornbirthsinQ4’22wereUniswapLabs,adecentralizedexchange,andCelestia,aLayer-1blockchainnetwork.

Seethedata→

57%OffundingwenttoUScompanies.

Overhalfofglobalblockchainfundingin2022wenttoUS-basedcompanies,at$15.3B.USfundinggrew3%YoYanddealsgrew34%,butbothwereskewedbyahealthyH1;fundinginQ4’22fell83%YoYand66%QoQ.TheUSmaybelosingitsfootholdasthepremierhubforblockchainstartups.BothEuropeandAsiamatchedtheUSin

blockchainfundingin

Q4’22,at$1B.

8

Seethedata→

StateofBlockchain

TLDR

47%$15.1B81%

YoYgrowthinfundingtoAsia-basedcompanies.

Asia-basedblockchaincompaniesraisedarecord$4.7Bin2022,upfrom$3.2Bin2021.Itsshareofglobaldollarsroseto18%,drivenbydealsinHongKongandSingapore.Fourofthe8global$100M+mega-roundsinQ4’22wenttoAsia-basedcompanies:AmberGroup,FenixGames,MinePlex,andOrfinex.

Seethedata→

FundingtoWeb3

startups.

Web3startupsgarnered56%ofglobalblockchainfundingin2022,upfrom39%lastyear.Fundinggrew50%YoY,butbothfundinganddealssawconsistentquarterlydeclinesasinvestorsreassessedtheWeb3hypeduringthecryptodownturn.

NFTs,gaming,&metaverse—Web3’slargestsubcategoryinfunding—sawa56%QoQdropinfundinginQ4’22.

Seethedata→

Growthinfundingtoinfrastructure&development.

Blockchaininfrastructure&developmenthadarecordyearforfunding($7.8B)anddeals(235)in2022,signalinginvestorconfidenceinblockchain’sfutureirrespectiveofcryptocurrencyvolatility.Thecategory’saveragedealsizeremainedalmostflatYoY(oneoftheonlycategoriestodoso),indicatingstablevalueintheeyesofVCs.

Seethedata→

-48%

Dropinfundingtocryptoexchanges&wallets.

Venturefundingtocryptoexchanges&walletsfellfrom$6.9Bin2021tojust$3.6Bin2022,revealingaclearshiftininvestorsentiment.

Dollarsflowedawayfromcentralizedexchanges,affectedbycrashingcryptoprices,andtowardsmoredifferentiatedverticalslikeWeb3andblockchaininfrastructure.

Seethedata→

-23%

Dropinfundingtoinstitutionalcrypto&custody.

Fundingintoinstitutionalcrypto&custodyfellto$4.9Bin2022.VCspulledbackonmakingdealsasinstitutionaldemandforcryptowaned.

InfluentialplayerslikeBlackRockandBNYMellonremainedbullishoninstitutionalinterestincrypto.However,thetokenizationofsecurities,notcrypto,isanemergingareatokeepaneyeon.

Seethedata→

9

StateofBlockchain

10

Contents

GlobalTrends

InvestmentTrends

Unicorns

ExitTrends

Investors

CollectionSpotlights

Web3

NFTs,Gaming,&Metaverse

DeFi

Infrastructure&DevelopmentInstitutionalCrypto&CustodyCryptoExchanges&Wallets

11

12

34

40

46

50

51

62

73

84

95

106

GeographicTrends

US

SiliconValley

NewYork

LosAngeles

Europe

UnitedKingdom

Asia

Singapore

117

118

126

130

134

138

146

150

158

GlobalTrends

11

InvestmentTrends

12

StateofBlockchain|GlobalTrends|InvestmentTrends

13

1,423

917

910

713

$4.9B

$3.2B

$3.2B

$25.7B

Globalblockchainfundinganddealsreach5-yearhighsin2022

Funding$26.8B

Deals

1,828

20182019202020212022

StateofBlockchain|GlobalTrends|InvestmentTrends

14

546

509

449

$9.0B

448

$7.6B

Deals325

349

$7.4B

345

$5.8B

280

271

269

$5.1B

234

227

Funding$3.2B

219

219

210

200

188

180

176

$3.5B

147

$1.5B

$1.5B

$1.2B

$1.1B

$1.0B

$0.8B

$0.8B

$0.8B

$0.7B

$0.7B

$0.6B

$0.6B

BlockchainfundinganddealsdipinQ4’22

$10.8B

Q1

Q2

2018

Q3

Q4

Q1

Q2

2019

Q3

Q4

Q1

Q2

2020

Q3

Q4

Q1

Q2

2021

Q3

Q4

Q1

Q2

2022

Q3

Q4

StateofBlockchain|GlobalTrends|InvestmentTrends

Asia

$1.0B

84Deals

US

$1.0B

137Deals

Africa

4Deals

Caribbean

11Deals

Australia

5Deals

$46M

TheUS,Europe,andAsiatieinQ4’22funding

$72M

Canada

Europe

$1.0B

78Deals

6Deals

$11M

LatAm&

$42M

15

StateofBlockchain|GlobalTrends|InvestmentTrends

16

AllOtherRegions,8%

Europe,24%

Asia,26%

US,42%

TheUScontinuestoleadinglobaldealshareinQ4’22

12%

23%

17%

26%

30%46%

30%29%26%

31%

30%31%32%

21%24%

35%37%38%

35%37%36%

41%40%

5%

15%

6%

12%

44%

40%

44%

42%

45%

36%

34%

33%

32%

35%

37%

38%

25%

23%

25%

24%

23%

25%

20%

22%

28%

24%

50%

51%

50%

50%

18%

18%

19%

19%

17%

16%

12%

11%

10%

19%

7%

7%

7%

7%

9%

9%

8%

8%

8%

8%

6%

5%

5%

Q1

Q2Q3

2018

Q4

Q1

Q2Q3

2019

Q4

Q1

Q2Q3

2020

Q4

Q1

Q2Q3

2021

Q4

Q1

Q2Q3

2022

Q4

StateofBlockchain|GlobalTrends|InvestmentTrends

17

9%

17%

7%

10%

22%

31%

6%

12%

8%

10%

26%

31%

6%

8%

13%

10%

9%

24%

27%

Incubator/Accelerator,6%

CVC,10%

Corp,12%

Asset/InvestmentManagement,13%

Angel,14%

Other,17%

VC,26%

VCsstillaccountforaquarteroftheblockchaindealshareinQ4’22

PrivateEquity,2%

10%

11%

14%

8%

11%

6%

12%

20%

20%

15%

26%26%27%28%30%29%25%29%31%27%27%25%26%24%27%25%

6%

8%

14%

16%

12%

15%

7%

12%

13%

14%

11%

15%

6%

13%

13%

10%

11%

20%

6%

7%

15%

15%

12%

15%

8%

8%

14%

15%

11%

15%

6%

6%

12%

16%

11%

19%

6%

8%

14%

10%

8%

25%

7%

8%

12%

12%

10%

20%

8%

7%

12%

10%

9%

20%

8%

17%

15%

10%

15%

14%

9%

14%

7%

10%

8%

14%

9%

14%

9%

15%

10%

14%

15%

24%

24%

10%

15%

16%

14%

14%

9%

8%

Q1

Q2Q3

2018

Q4

Q1

Q2Q3

2019

Q4

Q1

Q2Q3

2020

Q4

Q1

Q2Q3

2021

Q4

Q1

Q2Q3

2022

Q4

StateofBlockchain|GlobalTrends|InvestmentTrends

18

MedianDealSize

$4.2M

$4.1M

$2.5M

$2.0M

$1.9M

20182019202020212022

Averagedealsizefallsin2022,mediandealsizenearlyflattens

AverageDealSize

$21.2M

$16.2M

$9.2M

$6.8M

20182019202020212022

$6.3M

StateofBlockchain|GlobalTrends|InvestmentTrends

19

Europe

$4.0M

$3.3M

$3.0M

$1.9M

$1.3M

20182019202020212022

Asia

$4.0M

$3.8M

$2.5M

$2.2M

$2.0M

20182019202020212022

Europe’smediandealsizehitsa5-yearrecordin2022

US

$5.0M

$2.5M

$2.0M

20182019202020212022

$5.0M

$2.0M

StateofBlockchain|GlobalTrends|InvestmentTrends

20

$6.0M

Corp

$6.3M

$5.0M

$5.8M

Privateequity’smediandealsizejumps,CVC’smediandealsizedrops

Angel

$5.0M

$3.0M

201820202022

$4.

8M

Asset/InvestmentManagement

$9.2M

$7.0M

201820202022

CVC

$11.9M

201820202022

$8.0M

$4.0M

$6.0M

201820202022

PrivateEquity

$12.0M

201820202022

$4.0M

$8.5M

VC

$6.0M

$5.3M

201820202022

StateofBlockchain|GlobalTrends|InvestmentTrends

21

5

$2.0B

$15.1B

$0.7B

$100M+mega-roundfundingdown14%YoY

Funding$13.0B

60

Deals65

11

4

$0.8B

20182019202020212022

StateofBlockchain|GlobalTrends|InvestmentTrends

22

17

$5.6B

19

$4.8B

19

$3.4B

15

$3.0B

Funding$1.3B

9

$1.7B

8

$1.3B

Deals8

4

$0.9B

4

2

2

2

1

1

1

1

1

1

$0.7B

$0.1B

$0.1B

$0.3B

$0.3B

$0.1B

$0.1B

$0.3B

$0.3B

$0.2B

Mega-roundfundingflattensQoQ,down77%YoY

30

$7.1B

Q1

Q2

2018

Q3

Q4

Q1

Q2

2019

Q3

Q4

Q1

Q2

2020

Q3

Q4

Q1

Q2

2021

Q3

Q4

Q1

Q2

2022

Q3

Q4

StateofBlockchain|GlobalTrends|InvestmentTrends

Asia

$0.7B

4Deals

US

$0.2B

1Deal

AsialeadsinQ4’22mega-roundfundinganddeals

Europe

$0.5B

3Deals

23

StateofBlockchain|GlobalTrends|InvestmentTrends

24

Asia,4

Europe,3

US,1

AllOtherRegions,0

USmega-rounddealsfalltojust1inQ4’22,fewerthanAsiaandEurope

21

12

10

5

3

3

1

11

3

3

3

2

2

4

Q1

Q2Q3

2018

Q4

Q1

Q2Q3

2019

Q4

Q1

Q2Q3

2020

Q4

Q1

Q2Q3

2021

Q4

Q1

Q2Q3

2022

Q4

25

Non-mega-rounds,60%

Mega-rounds,40%

Mega-roundsdealsharejumps15percentagepointsinQ4’22

41%

48%

55%

64%

83%84%

100%

62%

45%

36%

17%16%

48%

47%

71%

77%

71%

75%

38%

35%

36%

38%

29%

23%

29%

25%

86%

84%

62%

65%

64%

52%

53%

59%

52%

16%

14%

Q1

Q2Q3

2018

Q4

Q1

Q2Q3

2019

Q4

Q1

Q2Q3

2020

Q4

Q1

Q2Q3

2021

Q4

Q1

Q2Q3

2022

Q4

StateofBlockchain|GlobalTrends|InvestmentTrends

26

Global:TopequitydealsinQ4'22

Company

RoundAmount

Round

Date

RoundValuation

SelectInvestors

Country

%ofTotalFunding

1

AmberGroup

$300M

SeriesC

2022-12-16

N/A

FenbushiCapital

Singapore

9.3%

2

MatterLabs

$200M

SeriesC

2022-11-16

N/A

BlockchainCapital,Dragonfly,AndreessenHorowitz,LightspeedVenturePartners,VariantEquity

Germany

6.2%

3

Copper.co

$181M

SeriesC

2022-10-12

N/A

N/A

Switzerland

5.6%

4

Uniswap

$165M

SeriesB

2022-10-13

$1.7B

PolychainCapital,Paradigm,SVAngel,VariantFund,A16zCrypto

UnitedStates

5.1%

5

FenixGames

$150M

VentureCapital

2022-11-24

N/A

CypherCapital,PhoenixGlobal

UnitedArabEmirates

4.7%

6

Aztec

$100M

SeriesB

2022-12-15

N/A

AndreessenHorowitz,ACapitalGroup,AlumniVentures,FenbushiCapital,HashKeyCapital

UnitedKingdom

3.1%

6

MinePlex

$100M

Undisclosed

2022-10-11

N/A

GEMDigital

Singapore

3.1%

6

Orfinex

$100M

Undisclosed

2022-11-30

N/A

N/A

UnitedArabEmirates

3.1%

9

ZoidPay

$75M

Undisclosed

2022-11-03

N/A

GEMDigital

Cyprus

2.3%

10

Keyrock

$72M

SeriesB

2022-11-30

N/A

Ripple,MiddleGameVentures,SIXFinTechVentures

Belgium

2.2%

StateofBlockchain|GlobalTrends|InvestmentTrends

27

Early-stagedealsharecontinuestodominatein2022

11%

6%

6%

77%

11%

9%

11%

6%

79%

77%

81%

8%

6%

20182019202020212022

Other,9%

Late-stage,4%

Mid-stage,7%

Early-stage,80%

StateofBlockchain|GlobalTrends|InvestmentTrends

28

TheUSleadsinQ4’22early-stagedealshare,Asialeadsinlate-stage

Early-stage

Mid-stage

Late-stage

Other

USAsiaEuropeAllOtherRegions

42%

47%

73%

67%

33%

20%

25%

24%

17%

17%

10%

18%

9%

StateofBlockchain|GlobalTrends|InvestmentTrends

29

Late-stage

$40.0M

$10.0M

$3.0M

20182019202020212022

$4.6M

$3.0M

Mid-stage

$51.6M

$40.0M

$20.0M

$15.0M

$14.4M

20182019202020212022

Mediandealsizefallsformid-andlate-stagedealsin2022

Early-stage

$4.0M

$20M

20182019202020212022

$3.5M

$22M

$1.9M

.

.

StateofBlockchain|GlobalTrends|InvestmentTrends

30

Global:Topseed/angeldealsinQ4'22

Company

RoundAmount

Round

Date

SelectInvestors

Country

1

Evmos

$27M

SeedVC

2022-11-04

PolychainCapital,Asymmetric,CircleVentures,CoinbaseVentures,GalaxyDigital

Germany

2

Nillion

$20M

SeedVC

2022-12-12

DistributedGlobal,AU21,ChapterOne,GSRVentures,HashKeyCapital

UnitedStates

3

Fordefi

$18M

SeedVC

2022-11-08

LightspeedVenturePartners,AlamedaResearchVentures,CastleIslandVentures,DeFianceCapital,ElectricCapital

UnitedStates

3

Shardeum

$18M

SeedVC

2022-10-18

CoinGeckoVentures,DFGCapitalManagement,ForesightVentures,GhafCapital,JaneStreetGroup

Switzerland

5

Ping

$15M

SeedVC

2022-11-09

BlockTowerCapital,DanhuaCapital,GoatCapital,RaceCapital,SignumCapital

UnitedStates

6

Exponential

$14M

SeedVC

2022-10-03

Paradigm,CircleVentures,FTXVentures,HaunVentures,Polygon

UnitedStates

6

Rye

$14M

SeedVC

2022-10-11

A16zCrypto

UnitedStates

8

FabricSystems

$13M

SeedVC

2022-10-13

8090Partners,B,Metaplanet

UnitedKingdom

9

Perennial

$12M

SeedVC

2022-12-07

PolychainCapital,VariantEquity,Archetype,CoinbaseVentures,RobotVentures

UnitedStates

10

Blackbird

$11M

SeedVC

2022-10-06

MulticoinCapital,ShineCapital,UnionSquareVentures,CircleVentures,IAC

UnitedStates

31

Global:TopSeriesAdealsinQ4'22

Company

RoundAmount

Round

Date

SelectInvestors

Country

1

Tatum

$42M

SeriesA

2022-10-12

EvolutionEquityPartners,DEPOVentures,LeadBlockPartners,TensorVentures,3VC

UnitedStates

2

HorizonBlockchainGames

$40M

SeriesA

2022-10-04

BrevanHoward,MorganCreekDigital,BITKRAFTEsportsVentures,CMTDigital,InitializedCapital

Canada

2

Nxyz

$40M

SeriesA

2022-10-12

Paradigm,GreylockPartners,SequoiaCapital,CoinbaseVentures,TheTwentyMinuteVC

UnitedStates

4

Stardust

$30M

SeriesA

2022-10-18

FrameworkVentures,AcrewCapital,BlockchainCapital,DistributedGlobal

UnitedStates

5

ArkonEnergy

$28M

SeriesA

2022-11-17

BlueSkyCapital,Kestrel0x1,ShimaCapital

Australia

5

LemonCash

$28M

SeriesA

2022-11-24

DSTGlobal,CadenzaVentures,CMTDigital,GoodwaterCapital,ValorCapitalGroup

Argentina

7

Fleek

$25M

SeriesA

2022-12-01

PolychainCapital,ArgonauticVentures,Arweave,CoinbaseVentures,DistributedGlobal

UnitedStates

8

ADDX

$20M

SeriesA

2022-11-14

KBSecurities

Singapore

8

Beosin

$20M

SeriesA

2022-11-03

N/A

Singapore

10

ChainSafeSystems

$19M

SeriesA

2022-10-18

Round13Capital,ConsenSysMesh,DigitalFinanceGroup,FenbushiCapital,HashKeyCapital

Canada

32

Global:TopSeriesBdealsinQ4'22

Company

RoundAmount

Round

Date

SelectInvestors

Country

1

Uniswap

$165M

SeriesB

2022-10-13

PolychainCapital,Paradigm,SVAngel,VariantFund,A16zCrypto

UnitedStates

2

Aztec

$100M

SeriesB

2022-12-15

AndreessenHorowitz,ACapitalGroup,AlumniVentures,FenbushiCapital,HashKeyCapital

UnitedKingdom

3

Keyrock

$72M

SeriesB

2022-11-30

Ripple,MiddleGameVentures,SIXFinTechVentures

Belgium

4

Ramp

$70M

SeriesB

2022-11-09

KorelyaCapital,MubadalaCapital,BaldertonCapital,CogitoCapital

Poland

4

TRMLabs

$70M

SeriesB

2022-11-09

ThomaBravo,AmericanExpressVentures,CitiVentures,PayPalVentures,GoldmanSachs

UnitedStates

6

Celestia

$55M

SeriesB

2022-10-19

BainCapitalCrypto,PolychainCapital,CoinbaseVentures,DelphiDigital,FTXVentures

Liechtenstein

7

Xanpool

$41M

SeriesB

2022-11-24

TargetGlobal,Antler

HongKong

8

Pyypl

$20M

SeriesB

2022-11-07

N/A

UnitedArabEmirates

9

RealFevr

$10M

SeriesB

2022-10-31

ADvantage,ShillingVC,SemapaNext

Portugal

10

Wavebridge

$8M

SeriesB

2022-12-22

KBFinancialGroup,KBInvestment,AJUIBInvestment,JBInvestment,NHVentureInvestment

SouthKorea

33

Global:TopSeriesCdealsinQ4'22

Company

RoundAmount

Round

Date

SelectInvestors

Country

1

AmberGroup

$300M

SeriesC

2022-12-16

FenbushiCapital

Singapore

2

MatterLabs

$200M

SeriesC

2022-11-16

BlockchainCapital,Dragonfly,AndreessenHorowitz,LightspeedVenturePartners,VariantEquity

Germany

3

Copper.co

$181M

SeriesC

2022-10-12

N/A

Switzerland

Unicorns

34

StateofBlockchain|GlobalTrends|Unicorns

35

78

TotalUnicorns,79

NewUnicorns,2

Unicornherdreaches79after2birthsandFTX’sbankruptcy

72

63

46

18

14

9

6

Q1

Q2Q3

2018

Q4

Q1

Q2Q3

2019

Q4

Q1

Q2Q3

2020

Q4

Q1

Q2Q3

2021

Q4

Q1

Q2Q3

2022

Q4

StateofBlockchain|GlobalTrends|Unicorns

US

53

1New

Asia

Europe

8

1New

0New

&

LatAm

2

0New

Caribbean

TheUSaccountsformorethantwo-thirdsofglobalunicornsinQ4’22

Canada

4

0New

10

Africa

1

0New

Australia

1

0New

36

StateofBlockchain|GlobalTrends|Unicorns

37

Europe,1

US,1

Asia,0

AllOtherRegions,0

TheUSandEuropearetheonlyregionswithunicornbirthsinQ4’22

14

10

6

5

3

2

11

1

3

1

Q1

Q2Q3

2018

Q4

Q1

Q2Q3

2019

Q4

Q1

Q2Q3

2020

Q4

Q1

Q2Q3

2021

Q4

Q1

Q2Q3

2022

Q4

StateofBlockchain|GlobalTrends|Unicorns

38

Global:UnicornbirthsinQ4'22

Company

LatestValuation

Country

1

Uniswap

$1.7B

UnitedStates

2

Celestia

$1.0B

Liechtenstein

39

Global:TopunicornsbyvaluationinQ4'22

Company

LatestValuation

Country

1

Ripple

$15.0B

UnitedStates

2

B

$14.0B

UnitedKingdom

3

OpenSea

$13.3B

UnitedStates

4

BitmainTechnologies

$12.0B

China

5

Alchemy

$10.2B

UnitedStates

6

DigitalCurrencyGroup

$10.0B

UnitedStates

6

KuCoin

$10.0B

Seychelles

8

Chainalysis

$8.6B

UnitedStates

9

FalconX

$8.0B

UnitedStates

9

Fireblocks

$8.0B

UnitedStates

9

StarkWare

$8.0B

Israel

ExitTrends

40

StateofBlockchain|GlobalTrends|ExitTrends

41

M&A,184

BlockchainM&Aexitshitarecordhighin2022,IPOsandSPACsaredown

168

19

3IPO,10

SPAC,2

20182019202020212022

42

M&A,39

1

1SPAC,1

M&AexitsandSPACsflatteninQ4’22,IPOsdropto0

55

50

46

40

10

4

1

5

IPO,0

Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4

20182019202020212022

43

AllOtherRegions,12%

Europe,22%

Asia,27%

US,39%

TheUSgains9percentagepointsintheshareofglobalexitsinQ4’22

6%

23%

50%

32%

23%

44%

23%

20%

29%

29%

25%

10%

31%

35%

20%

15%

22%

24%

27%

19%

14%

42%

11%

22%

41%

26%

12%

27%

33%

27%

7%

33%

26%

33%

16%

28%

28%

28%

16%

21%

32%

32%

14%

34%

17%

34%

22%

15%

35%

29%

21%

23%

26%

30%

15%

19%

30%

37%

12%

29%

18%

41%

12%

16%

28%

44%

18%

33%

10%

40%

48%

8%

16%

28%

37%

Q1

Q2Q3

2018

Q4

Q1

Q2Q3

2019

Q4

Q1

Q2Q3

2020

Q4

Q1

Q2Q3

2021

Q4

Q1

Q2Q3

2022

Q4

StateofBlockchain|GlobalTrends|ExitTrends

44

Global:TopM&AexitsinQ4'22

Company

RoundValuation

Acquirer

Country

1

ApexCrypto

$200M

Bakkt

UnitedStates

2

TextileGenesis

$31M

Lectra

India

3

Zipmex

$30M

VVentures

Singapore

4

DarkhorseFilms

$10M

SoLVBLSolutions

UnitedKingdom

45

Global:SPACinQ4'22

Company

RoundValuation

SelectInvestors

Country

1

DevvStream

N/A

DevvStreamHoldings

Canada

Investors

46

StateofBlockchain|GlobalTrends|Investors

47

Global:TopinvestorsbycompanycountinQ4'22

Investor

CompanyCount

InvestorGroup

Country

1

CoinbaseVentures

12

CVC

UnitedStates

2

PolychainCapital

11

Asset/InvestmentManagement

UnitedStates

3

BigBrainHoldings

8

Other

UnitedStates

3

CircleVentures

8

CVC

UnitedStates

3

ShimaCapital

8

VC

UnitedStates

6

BalajiSrinivasan

7

Angel

Singapore

7

FTXVentures

6

CVC

Bahamas

7

HashKeyCapital

6

VC

HongKong

7

Polygon

6

Corp

India

7

SolanaVentures

6

VC

UnitedStates

7

VariantFund

6

VC

UnitedStates

StateofBlockchain|GlobalTrends|Investors

48

Global:TopVCsbycompanycountinQ4'22

Investor

CompanyCount

Country

1

ShimaCapital

8

UnitedStates

2

HashKeyCapital

6

HongKong

2

SolanaVentures

6

UnitedStates

2

VariantFund

6

UnitedStates

5

6thManVentures

5

UnitedStates

5

BlockchainCapital

5

UnitedStates

5

ChapterOne

5

UnitedStates

5

NFX

5

Unite