HomeAnalysisTrammell Venture Partners Releases 2nd Annual Bitcoin-Native Startup and VC Ecosystem Research

Trammell Venture Partners Releases 2nd Annual Bitcoin-Native Startup and VC Ecosystem Research

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Trammell Venture Partners, an Austin, TX-based venture capital firm, announced the second annual results of its proprietary research on the early growth of the Bitcoin-native startup and venture capital ecosystem.

In their research, TVP finds that despite the sharp crypto venture market investment decline in 2023, the Bitcoin startup sector had a breakout year at the Pre-Seed stage, with a 360% year-over-year increase in transaction count.

In the broader startup sector, 2023 exit activity reached a more than 10-year low. This activity ultimately led to a lower total number of venture deals for the second consecutive year across the startup spectrum in 2023. Crypto venture deal count specifically was down significantly in 2023: -35.3%. Yet despite this backdrop, Bitcoin-native as a category again grew in 2023; it was up 69.2% year-over-year.

TVP’s research data indicate that early-stage, Bitcoin-native startups raised just under $1 billion during the 2021-2023 period. The data indicated a significant wave of venture-backed, Pre-Seed companies seeking product-market fit—typically predictive of future Seed, Series A, and subsequent rounds.

The TVP Bitcoin startup ecosystem research brief is available for download.

Founded in 2016, Trammell Venture Partners is an early-stage venture capital firm focused on investing in highly technical companies in three core areas including Bitcoin-native technologies, security and privacy tech, and applied AI. Since 2020, TVP has focused on backing founders building on the layers of the Bitcoin protocol stack via the TVP Bitcoin Venture Fund series of funds.

VCWire

15/04/2024