VC Firms Invested in MATIC and These Altcoins!

VC Firms Invested in MATIC and These Altcoins!

Despite the depressing crypto market situation, crypto companies managed to raise large funds last year. For example, Polygon (MATIC) has raised $450 million in funding under the direction of Sequoia Capital with the participation of Tiger Global and SoftBank.

7 surprising crypto finances of 2022

However, it has been a year of trouble for the crashes that fueled the most recent crypto winter, however. As winter hits, VC firms have closed their wallets. According to statistics, global funding for VC-backed crypto businesses was $8.8 billion in Q1 2022. However, it fell to $6.2 billion in the second quarter and to about $3.4 billion in the third quarter. Also, crypto startups raised around $2.4 million in the fourth quarter of 2022 alone. Still, some businesses have managed to raise enormous funds despite the always downturn, albeit almost exclusively in the first half of the year.

VC Firms Invested in MATIC and These Altcoins!

Here is the list of the biggest crypto funds of 2022, including MATIC:

Yuga Labs: $450 million

In March, a $450 million funding was launched in crypto headed by Andreessen Horowitz by the organization that manages the famous Bored Ape Yacht Club. That being said, the company’s cost at the time of variety was just $4 billion. However, the NFT market has since collapsed. Additionally, Yuga Labs is under an SEC investigation, apparently for selling unregistered securities.

ConsenSys: $450 million

ConsenSys is led by Joe Lubin, co-founder of Ethereum. The company creates software targeting the Ethereum ecosystem. ConsenSys raised $450 million in March with its lead investor, ParaFi Capital. In addition, it cost the company $7 billion. However, since then the business has faced criticism for closure issues with the software package. But Lubin said the company has resolved these issues.


Polygon (MATIC): $450 million

Polygon (MATIC) is a Layer-2 Blockchain built on Ethereum that aims to expand the ecosystem for applications ranging from gaming to DeFi. The project announced in February that it had raised $450 million in funding under the direction of Sequoia Capital, in partnership with Tiger Global and SoftBank. In the middle, Polygon’s own token, MATIC, had a market cap of $13 billion at the time. But then it fell below $7 billion.

Circle: $400 million

Circle is the creator of USDC, the second largest stablecoin after Tether (USDT). In April, it announced a $400 million type of capitalization, including contributions from well-known names in classical finance, including BlackRock and Fidelity. The entity also planned to go public through a SPAC merger at the cost of US$9 billion. However, later the treaty fell through.

VC Firms Invested in MATIC and These Altcoins!

FTX: $400 million

Crypto exchange FTX also raised $400 million in January. In this process, the value of the company was 32 billion dollars. It’s only been a few months since FTX’s infamous ‘breast round’ on October 20, 2021, when it raised $420 million from 69 investors. In the middle, the company reported that it had raised $300 million after selling Sam Bankman-Fried’s individual stake.

Animoca Brands: $358 million

The Hong Kong-based software and enterprise firm received a $358 million Series A investment in January. With the crypto market still surging, with $5 billion valuation, Liberty City Ventures led.

VC Firms Invested in MATIC and These Altcoins!

NEAR Protocol: $350 million

NEAR Protocol provides a platform for programmers to build decentralized applications. Therefore, the leading Blockchain is considered a competitor to Ethereum. After its October 2020 launch, it has received valuable funding, including $350 million in medicine in April 2022. Tutu directed Tiger Global. Also, it happened three months after the $150 million tip in January. The altcoin market cap hit a record high of over $12.5 billion in April. However, it now stands at just over $1 billion.

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