Venture capitalists: There are probably fewer than 20 VCs still investing in seed rounds in the industry.

ME News message. On April 13 (UTC+8), Varys Capital’s venture investment director Tom Dunleavy posted on X that the funding environment in the cryptocurrency market has changed dramatically over the past six months. Previously, if VCs wanted to invest in good projects, they had to constantly do networking, write content, appear on podcasts, join Space, publicize their investment logic, and even make countless calls every week… but now, as long as there’s money available to deploy, that’s enough. Now, projects are “pushed in front of VCs” rather than VCs proactively digging them up—so long as others know you have funds, projects will come looking for you on their own. Most VC firms are currently in one of these three situations: they’ve run out of money, they’re shifting to later stages (Series A and beyond), or they’re fundraising (but not smoothly). What used to be completed in 2–3 weeks often ends up taking 2–3 months now. Projects with questionable business models, or ones that simply copy the latest hot narrative, can no longer secure new funding or follow-on investments (this is a good thing). In reality, there may be fewer than 20 institutions still actively doing pre-seed / seed rounds. VC firms can basically calmly choose the projects they want to invest in, and they also have more time to conduct due diligence. This round of the investment cycle in 2025 and 2026 could very possibly become a historic “golden opportunity,” but the prerequisite is that VCs are able to stay and stick around. (Source: ODAILY)