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Crypto exits remain low but investors remain unfazed
New PitchBook data makes it clear that if the larger startup market is suffering from an exit-drought, crypto startups are possibly even more parched.
The good news for crypto founders is that despite slim chances at selling their company, venture capital investment ticked 2.5% higher in Q4 2023 compared to the third quarter, though deal volume fell a similar percentage. But with crypto prices rising, key regulatory hurdles cleared, and other positive signals casting a bit of warm light on web3 more generally, more investment doesn’t shock us. As the venture landscape focuses toward 2024 and the crypto market cap continues to grow, there’s still cautious optimism in the space and an appetite to hold on to seemingly strong bets.
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