tl;dr

Summary

It has been a question for me for a while: where are the VCs investing into in the blockchain space? After this quantitative examination on 2,288 blockchain-related companies and 3,036 deals about these companies, it is clear that most VCs are still simply investing in cryptocurrency-related start-ups, since this is the relatively easiest/safest way to make money. However, VCs are also starting to look into the new cryptographic technologies and protocol designs, since it is still at the very early stage of blockchain and a better protocol is needed.

Please feel free to click the link below images to see the interactive version of diagrams (or click here). All data comes from PitchBook.

Market

Most funding has been directed to companies in the US and China.

Geographically, most of the funding ($8,869 M) has been raised in the United States ($4,487 M), China ($1,512 M, excluding the Bitman IPO), and Canada ($628 M). Following these three markets, United Kingdom, Switzerland, Israel, Singapore, South Korea, Japan, and Hong Kong have also attracted a notable volume of capital.