A recent survey published by Crypto Koryo on April 4 reported a notable surge in crypto venture capital (VC) investments during the first quarter of 2024.

The analysis revealed a 38% rise in VC investments, amounting to nearly $2 billion funneled into various crypto projects. Additionally, VCs' participation in 250 crypto projects marked a 49% increase from the previous quarter, showcasing positive growth trends in the crypto investment landscape.

These figures reflect a welcome upturn since the record-high investments of $14 billion in Q4 2021 and signal potentially encouraging developments post a two-year decline in crypto VC investments.

Among the top 50 investors, notable VC firms like a16z, OKX Ventures, and Multicoin Capital, along with Protocol Labs, emerged as the leading entities in terms of the invested amounts, emphasizing the diverse investment focus across different projects. High-profile projects such as Hashkey, EigenLayer, Zama, and Berachain secured significant funding through diverse fundraising events, underlining the robust funding initiatives in the crypto sector.

In terms of blockchain-specific investments, Ethereum led the way with hosting over 50 VC-funded projects, followed closely by Solana with 40 projects, largely credited to memecoin ICOs. Despite Polygon and Bitcoin welcoming more than 10 VC-funded projects each, Crypto Koryo noted shifting dynamics with Polygon encountering a decline in market share while Bitcoin sustains its strong position in the investment sector.

While the crypto VC investment trajectory witnessed a positive upswing in Q1 of 2024 according to Crypto Koryo's survey findings, previous reports from Pitchbook suggested a slight rebound in VC funding as early as February. Despite the increase in funding in the last quarter, Pitchbook also observed a decrease in deal volumes, indicating ongoing fluctuations in the crypto investment landscape due to past market challenges and events influencing crypto market stability.