Crypto VC
2026-07-16 06:12:04Tiger Research says crypto VC in H1 2026 put up $13.3 billion across far fewer deals
Crypto venture investing is no longer being driven by fast, broad token bets. In a report based on 9,416 deals recorded from 2018 through the first half of 2026, Tiger Research and RootData argue that the market has moved into a far more selective phase, with capital concentrating around a smaller set of companies, later-stage rounds, exchange-linked investors, and institutional infrastructure plays.
The headline numbers show the shift clearly. Total capital inflows in H1 2026 reached $13.3 billion, roughly matching the $13.2 billion seen in all of 2024, yet the number of funding rounds fell to 435, down 78% from the 1,978-round peak in 2022. Seed activity contracted sharply, large deals became a bigger share of the market, and traditional financial institutions were involved in 54.5% of all recorded investment transactions during the period.
Sector leadership changed as well. Infrastructure’s share of total capital dropped from 50.9% in 2024 to 14.8% in H1 2026, while payments and stablecoins, centralized exchanges, and prediction markets moved to the front. The report also says capital flowing into payments, stablecoins, and CEXs was largely driven by M&A, while areas such as gaming, NFTs, and social fell steeply in both deal count and funding.