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Data shows a 120% Increase in VC Investment for European DeFi Startups in 2022

Tom "The Tiger" by Tom "The Tiger"
March 28, 2023
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Data shows a 120% Increase in VC Investment for European DeFi Startups in 2022
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A recent report by European investment firm RockawayX revealed that venture capital investments in European crypto startups hit an all-time high of $5.7 billion in 2022, despite ongoing market instability and the collapse of some prominent players. The report also showed that European decentralized finance startups saw a 120% increase in VC investment, reaching $1.2 billion in 2022. The CEO of RockawayX, Viktor Fischer, stated that the crypto market is cyclical, and investments made during bear markets often lead to tech and usage traction during bull markets.

Although Europe has the highest number of crypto startups, it lags behind the US in terms of startups with over a million dollars in funding and unicorns. In Europe, more than half of all investments were made in startups that provide financial services, while infrastructure and Web3 made up 32% and 16%, respectively. Despite a decline in investment in financial service-based startups by 19% compared to 2021, Europe is increasingly seen as a crypto-friendly region.

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