Alphabet invested $1.5B into blockchain startups since September 2021: Report

December 12, 2022

By Anjali Kochhar

A new report has stated that over $6 billion was invested in blockchain startups by 40 public companies from September 2021 to June 2022.

According to a report by  CB Insights, Google’s parent company Alphabet took the highest bet of $1.5 billion into 4 startups, including DapperLabs.

This was followed by institutional hedge fund manager BlackRock followed suit with $1.17 billion. On the other hand, Wall Street giants Morgan Stanley and Goldman Sachs invested $1.1 billion and $698 million, respectively.

Samsung was the most active investor during the period, having participated in 13 investment rounds. United Overseas Bank (UOB) led 7 rounds, while Citibank closed 6 deals.

Out of the $477 million committed by Microsoft to two startups during the period, 94% ($450 million) went in for the ConsenSys deal. Alphabet on its part took a bet on 4 startups with $550 million invested in Fireblocks.

On the other end, a more diversified company like Samsung shared its $979 million across 13 blockchain startups. UOB, with an investment of $204 million, funded 7 startups, including Yield Guild Games.

The report also showed that Non-fungible tokens (NFT) services received more funding.

61 blockchain startups were considered for investment, of which 19 were focused on building NFT solutions. About 63% of the solutions were marketplaces, supporting the buying and selling of NFTs.

According to Investopedia, Non-fungible tokens or NFTs are cryptographic assets on a blockchain with unique identification codes and metadata that distinguish them from each other.

Unlike cryptocurrencies, they cannot be traded or exchanged at equivalency. This differs from fungible tokens like cryptocurrencies, which are identical to each other and, therefore, can serve as a medium for commercial transactions.

A similar report published by Pitchbook indicated that $17.5 billion was invested in crypto startups during the first half of 2022. Venture capital poured $9.85 billion into crypto during the first quarter, while the second quarter recorded $6.75 billion.

About the author

Anjali Kochhar covers cryptocurrency stories in India as well as globally. Having been in the field of media and journalism for over three years now, she has developed a sharp news sense and works hard to present information that goes beyond the obvious. She is an avid reader and loves writing on a wide range of subjects.

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