The crypto venture capital industry experienced a significant surge in March 2024, with $1.16 billion invested, marking the second-highest investment amount in a 12-month period.

Investments predominantly flowed into crypto infrastructure and decentralized finance (DeFi) projects on the Ethereum blockchain.

Key investments included Optimism's $89 million private token sale and Zama's $73 million Series A funding.

Paradigm, a web3 venture firm, is negotiating to raise $750 million to $850 million for a new crypto fund, the largest since the May 2022 market crash.

The industry has shown signs of recovery with a 52.5% increase in funding for crypto projects in March and Paradigm's new initiative to influence US public policy.