Galaxy Digital survey finds crypto VC investment up 31% quarter-on-quarter to about $5.683 billion

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Galaxy Digital, a crypto financial services firm, published survey findings on September 16 covering investment trends in the crypto and blockchain sectors. In the April-to-June 2026 quarter, venture capital firms invested about $5.683 billion in private crypto and blockchain-related companies, up 31% from the previous quarter, while the number of deals rose 10% quarter-on-quarter to 384. The biggest driver of the increase was the concentration of investment capital in later-stage companies, which accounted for about 78% of total investment, and the median funding per deal also reached a record high of about $4.9 million. By sector, companies engaged in exchanges, investment and lending raised about $3.523 billion, equivalent to roughly 60% of total investment, and more than 90% of the money put into this sector went to later-stage companies. Meanwhile, investment in the decentralized finance sector came to about $478 million. By region, companies headquartered in the United States accounted for 73.5% of investment value, but US companies made up only 39.1% of deal count. About $3.9 billion was allocated to new crypto-focused funds in the April-to-June quarter, but the number of funds came to just five, the lowest level since 2019. VC investment in the first half of 2026 reached about $10.018 billion, and if that pace continues, full-year investment would come to about $20.037 billion, approaching the roughly $20.3 billion seen in 2025 while exceeding the levels of the downturn in 2023 and 2024, according to the projections.

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