Samsung named most active investor in crypto and blockchain startups – Finance Bitcoin News
Between September 2021 and mid-June 2022, Samsung invested in 13 crypto/blockchain companies, making the South Korean company the most active among the top 40 companies. Google’s parent company Alphabet, on the other hand, tops the category of top companies that participated in the largest financing rounds.
40 companies invest 6 billion dollars
According to research firm Blockdata’s analysis of investments in blockchain and crypto startups by top companies between September 2021 and mid-June 2022, South Korean electronics giant Samsung was the most active after investing in 13 companies. United Overseas Bank, which invested in 7 companies, is the second most active and is closely followed by two American financial giants Citigroup (6) and Goldman Sachs (5).
As shown by the analysis, the number of crypto or blockchain startups funded by Samsung, United Overseas Bank, Citigroup and Goldman Sachs during the period under review is almost half (31) of the total number of startups (65) that raised capital from 40 top companies.
While the data on the exact amount invested by each company is not available, Blockdata’s analysis still provides an estimate of the amount invested by all companies.
“The 40 companies invested approximately $6 billion in blockchain startups between September 2021 and June 2022. Because some rounds involve the participation of multiple investors, it is unclear how much each company invested in a project,” Blockdata’s research report said.
Meanwhile, when it comes to companies that were active in the largest funding rounds, Alphabet, the parent company of Google, tops this category after it participated in rounds that raised just under $1.51 billion. Blackrock is in second place after participating in three funding rounds where $1.17 billion was raised.
US financial giant Morgan Stanley takes third place after participating in two rounds that raised $1.1 billion while Samsung is fourth with $979 million.
Companies invest in NFT companies
As for the use cases that top companies are interested in, Blockdata determined that 19 of the companies that received funding were in “some form of non-fungible tokens (NFT) solutions and services.” Twelve are marketplaces, while eleven operate gaming services.
The research firm explained the different investment approaches of the top companies:
Samsung is placing bets across the blockchain ecosystem, investing in companies that focus on 15 different use cases, such as blockchain services, development platforms, NFTs and social networks. On the other hand, Alphabet and Blackrock show a completely different strategy by betting concentratedly on a smaller set of companies.
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Image credit: Shutterstock, Pixabay, Wiki Commons, Blockdata,
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