Countries, especially the USA, are taking steps to regulate the market. However, institutional investments in the cryptocurrency market continue unabated. In such an environment, Blockdata analyzed altcoin projects invested by giant US companies.
Top 100 companies invested in altcoin projects
Blockdata, the research arm of CB Insights, recently analyzed the top 100 banks investing in blockchain/crypto to understand the key use cases they support and which new banks have entered the space in the last 10 months. It also reviewed the blockchain investment activity of the top 100 public companies to understand what has changed, what areas within Blockchain are keeping in mind, and which new entrants are currently investing.
Blockdata examined the altcoin investments these top companies made from September 2021 to mid-June 2022. During that time, it found that 40 companies have invested in companies in the blockchain/crypto space. Among them, Samsung is the most active company investing in 13 altcoin projects. This is followed by UOB with 7 investments, Citigroup with 6 investments and Goldman Sachs with 5 investments.
However, Blockdata was unable, in most cases, to determine how much money these companies had deposited. Because they participate in funding rounds with more than one or many other investors. As a reflection of this, it is meaningful to look at the total funding amounts of the tours they participated in.
Which Blockchain companies did investors prefer?
Based on this, investors active in the largest funding rounds are Alphabet ($1,506 million in 4 rounds), Blackrock ($1,171 million in 3 rounds). It is followed by Morgan Stanley ($1.10 million in 2 rounds), Samsung ($ 979 million in 13 rounds). 40 companies invested nearly $6 billion in blockchain startups between September 2021 and June 2022. Meanwhile, some rounds involve the participation of more than one investor. So it’s unclear exactly how much each company invests in a project.
Although not on the current list of leading investors, MasterCard is still actively involved in inorganic technology integration and development. Prior to September 2021, Mastercard was among the top 3 active investors by the number of deals it participated in. But since then, MasterCard has run incubation and acceleration programs mainly for 4 Blockchain startups. In September 2021, it also acquired CipherTrace, a crypto intelligence company, to support its cybersecurity solutions to stay on top of digital assets.
Samsung is betting on the Blockchain ecosystem by investing in companies that focus on 15 different use cases such as Blockchain services, development platforms, NFT and social networks. Alphabet and Blackrock, on the other hand, place concentrated bets on the smaller group of companies. This way it showcases a completely different strategy.
In the context of banks, Citigroup and Goldman Sachs remain among the leading investors. United Overseas Bank, Commonwealth Bank of Australia, BNY Mellon and Morgan Stanley also took their place in the list by making significant leaps.
However, companies are exploring specific use cases and portfolios that complement their core offerings. HERE Technologies, for example, has invested in UNL, a Blockchain-based location and mapping technology company, to implement Blockchain-enabled security and transparency measures in a location/mapping setting. Don’t forget to follow Kriptokoin.com for the hottest and important Bitcoin and altcoin news.
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