Crypto VC funds struggle to capture money as startup fundraising rebounds in 2025

Crypto venture capital (VC) firms are experiencing operational strain and consolidation, even as project-level fundraising gains momentum. In the first quarter, crypto startups raised $5.85 billion, already accounting for nearly 61% of the capital raised throughout 2024, according to DefiLlama. Varys Capital head of venture Tom Dunleavy shared that, despite this influx, fewer active funds […]