The final week of February 2025 saw a surge in crypto venture capital (VC) funding, with investments nearing $500 million across multiple sectors. Asset management and DeFi infrastructure projects attracted the highest funding rounds, with Figure leading the way with a $200 million raise, followed by Ethena Labs at $100 million.
Top Crypto VC Funding Rounds
1. Figure – $200 Million
- Raised $200 million in an undisclosed round
- Backed by Sixth Street Partners
- Focused on asset management and banking solutions
- Total funding to date: $1.72 billion
2. Ethena Labs – $100 Million
- Secured $100 million in private funding
- Backed by Franklin Templeton, Polychain Capital, and Pantera
- Additional $16 million from MEXC Ventures in the same week
- Developing DeFi solutions on Ethereum
- Total funding to date: $136.5 million
3. Bitwise – $70 Million
- Raised $70 million in an undisclosed round
- Backed by Electric Capital, MassMutual Ventures, and MIT Investment Management
- Building crypto asset management solutions
- Total funding to date: $87 million
“Bitwise has completed a $70 million round from top financial institutions and technology investors as we continue building the leading crypto asset management firm.” – Bitwise
4. Raise – $63 Million
- Secured $63 million in strategic funding
- Backed by HAUN, Paper, and Selini
- Developing marketplace and payment solutions
5. Aurum – $12 Million
- Raised $12 million in an undisclosed round
- Estimated $100 million fully diluted valuation (FDV)
- Integrating AI with asset management
6. Orochi Network – $12 Million
- Secured $12 million in seed funding
- Backed by Presto, Smape, and Anti Capital
- Focused on zero-knowledge (ZK) technology for infrastructure development
“Orochi Network has successfully raised $12M in funding to build verifiable data infrastructure.” – Orochi Network
7. Geodnet – $8 Million
- Raised $8 million in strategic funding
- Backed by Meld.cap and DACM
- Developing IoT data service infrastructure
- Total funding to date: $15 million
Notable Crypto VC Rounds Under $8 Million
Several other projects secured funding under the $8 million mark, indicating continued interest in DeFi, AI, gaming, and blockchain security.
- Mavryk Network – $5.2 million (L1 real-world assets)
- Imua – $5 million (AI security for L1)
- Shaga – $4 million (Solana gaming)
- Ligero Inc. – $4 million ($20M FDV for privacy security)
- Finisterra Labs – $3.75 million (Data analytics)
- Meebit Company, FanTV, and Byzantine Finance – $3 million each
- Tenor Labs – $2.5 million (DeFi lending)
- Memes Lab – $2.3 million (TON memes)
- Aegis – $2 million (DeFi stablecoins)
- Torch Finance – $1.5 million (TON DEX)
- Endless and EthicHub – $1 million each
- Vortex – $893,000 (DeFi infrastructure)
- Morpheus Labs – $430,000 in Series A (AI infrastructure)
The past week highlighted strong investor confidence in asset management, DeFi, and AI-driven solutions. With Figure’s $200M raise and Ethena Labs’ $100M funding, it’s clear that institutional capital continues to flow into the crypto space despite market fluctuations. As blockchain adoption accelerates, more funding rounds are expected to fuel innovation and infrastructure development in 2025.
