According to ME News, on April 13 (UTC+8), Tom Dunleavy, Head of Venture Capital at Varys Capital, posted on X that the fundraising environment in the cryptocurrency market has changed dramatically over the past six months. Previously, VCs had to constantly network, create content, appear on podcasts, participate in Spaces, and promote their investment thesis—spending countless calls each week—to secure access to quality projects. Now, all it takes is having capital available. Projects are being brought directly to VCs’ doors, eliminating the need for active sourcing; simply being known as a fund with money will attract inbound opportunities. Most VC firms today fall into one of three categories: they’ve run out of capital, have shifted focus to later-stage investments (Series A and beyond), or are currently raising funds—but struggling to do so. What used to take 2–3 weeks to close now often stretches to 2–3 months. Projects with questionable business models or those merely copying the latest hype narratives can no longer secure new funding or follow-on investments (which is a good thing). In reality, fewer than 20 firms are still actively making pre-seed or seed investments today. VCs can now afford to be selective, choosing which projects to back and taking more time to conduct thorough due diligence. This upcoming investment cycle in 2025 and 2026 could become a historic “golden opportunity”—but only if VCs stay the course. (Source: ODAILY)
VCs: Fewer than 20 firms continue to invest in pre-seed and seed rounds in crypto.
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Summary
Crypto news from MetaEra reveals that the crypto fundraising landscape has shifted dramatically in just six months. Tom Dunleavy of Varys Capital noted that most venture capital firms have exhausted their capital, are shifting focus to later-stage rounds, or are struggling to raise new funds. Fewer than 20 firms are still investing in pre-seed or seed rounds. Projects are now actively seeking out VCs with available capital, reducing the need for VCs to aggressively network. This shift enables VCs to be more selective and dedicate more time to due diligence. Dunleavy views 2025–2026 as a potential historic opportunity for those who remain in the space. Today’s crypto market shows that VCs are adapting to a tighter funding environment.
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