Digital Currency Investments: The 15 Biggest in 2020

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Key Crypto & Blockchain Investment Trends

Source: CB Insights

Here are our five top takeaways from the report:

• Less investment inflows: While overall investment inflows to the sector fell by 30% in 2019 when compared to 2018, the overall number of deals fell by only 2% --- which means that overall deal sizes shrank.
• Deals are moving to the East: Investors are looking for deals in the east, evidenced by a rise in investment flows entering China. China's share of deals grew from 2% in 2015 to 22% in 2019, while the United States' share of deals fell from 51% in 2015 to 31% in 2019.
• Crypto infrastructure is hot: Investors are betting big on cryptocurrency infrastructure, including custody, tax, data and protocol infrastructure. On the other hand, enterprise blockchain funding has slowed.
• The rise of DeFi: Decentralised finance (DeFI) platforms now hold US$1 billion in assets, up from US$300 million at the start of the year.
• Central banks are getting in the game: Central banks around the world, such as those in China and England are taking central bank digital currencies (CBDCs) seriously. As of June 2020, China has launched its CBDC and even smaller economies such as Malaysia have legalised the trading of digital currencies and tokens.

15 Biggest Digital Currency Investments

Source: CB Insights

The investment arms of NEO and Coinbase topped the Digital Currency Group (DCG) to claim the crown in 2019. DCG was previously the top investor in the industry from 2016 to 2018.

Here are the biggest investors in the crypto and blockchain space in the last five years.

1. NEO Global Capital (NGC)

Founded in 2017, NGC is a Singapore-headquartered investment firm which invests exclusively in the cryptocurrency space. The firm aims to bring traditional investing best practices to this fast-moving new sector.

2. Coinbase Ventures

Formed in 2018 as digital currency wallet and platform Coinbase's investment arm, Coinbase Ventures is a San Francisco-based (SF) fund that focuses on financing early-stage companies with ideas "that can move the space forward in a positive, meaningful way".

3. Galaxy Digital

Galaxy Digital was founded by Wall Street veteran Michael Novogratz in 2018. Summing up, the firm calls itself a "diversified merchant bank" dedicated to institutionalising the crypto space while promoting the technology behind digital assets and blockchain.

4. Fenbushi Capital

Founded and based in Shanghai in 2015, Fenbushi was the first and most active blockchain-focused venture capital firm. The firm is led by a team of financial veterans, with over 60 blockchain projects across four continents.

5. Digital Currency Group (DCG)

Founded in 2011 by Bitcoin evangelist Barry Silbert, DCG continues to be one of the world's leading investors in the space, known especially for its subsidiaries such as Coindesk and Grayscale. The company is based in New York.

Source: CB Insights

6. Polychain Capital

SF-based Polychain Capital was founded in 2016 by Olaf Carlson-Wee, who was the first employee at digital currency exchange Coinbase.

7. Andreessen Horowitz (a16z)

a16z was founded in 2009 by serial entrepreneurs Marc Andreessen and Ben Horowitz. The firm is known as one of Silicon Valley's leading venture capital firms.

8. BoostVC

BoostVC is a pre-seed fund investing in "sci-fi" startups, i.e. areas such as crypto, virtual reality, biotech, robotics, and time travel. Adam Draper founded this firm in 2012.

9. Blockchain Capital

It would probably come as no surprise that SF-based Blockchain Capital finances, well, blockchain startups. Founded in 2013 by Brad and Bart Stephens, the firm has made over 80 investments to date.

10. Plug and Play

Saeed Amidi, an entrepreneur, and tech executive founded Plug and Play Ventures in founded in 2006. The firm primarily seeks new deals through its 50+ accelerator programs held in over 30 locations worldwide.

11. Bitmain Technologies

Bitmain is one the world's top 10 and China's second-largest semiconductor companies headquartered in Beijing. Its venture capital arm Bitmain Technologies, which was founded in 2013, is also the country's largest Bitcoin miner.

12. Pantera Capital

Founded in 2003 and headquartered in Menlo Park, Pantera is an investment firm focused exclusively on ventures, tokens, and projects related to blockchain tech, digital currency, and crypto-assets.

13. Medici Ventures

Launched in 2014, Medici is a Utah-based internet retailer Overstock's investment arm which focuses on financing solutions that leverage and service blockchain technologies.

14. FundersClub

Founded in 2012, FundersClub touts itself as the world's first online venture capital firm which uses software, direct relationships and referrals to find new deals. The firm invests primarily at the Seed and Series A stage.

15. RRE Ventures

New York-based RRE Ventures was founded in 1994 that focuses on early-stage, category-defining startups across all sectors in the US.

AddiThe firm has raised around US$2 billion across nine funds since its founding.

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Cryptocurrencies mentioned in this article:

• Bitcoin

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